Hi,
I am new here and I hope I am posting in the right place.
I would be grateful for your advice on a property I am considering buying.
It is a one bed leasehold flat with 92 years left and a ground rent of 350 rising to 700 in 2015 and 1000 in 2025.
The advice I am looking for is whether I should purchase this flat as a buy to let investment (roughly for a period of 5 years). Or is the leasehold and ground rent amounts means I will have difficulty selling it in 5 years.
Further information is I will be getting the flat at 5% less than market value, I am a cash buyer and the flat is in London.
What would you do?
Thanks for your help and advice
J
I am new here and I hope I am posting in the right place.
I would be grateful for your advice on a property I am considering buying.
It is a one bed leasehold flat with 92 years left and a ground rent of 350 rising to 700 in 2015 and 1000 in 2025.
The advice I am looking for is whether I should purchase this flat as a buy to let investment (roughly for a period of 5 years). Or is the leasehold and ground rent amounts means I will have difficulty selling it in 5 years.
Further information is I will be getting the flat at 5% less than market value, I am a cash buyer and the flat is in London.
What would you do?
Thanks for your help and advice
J