Just thought it would be interesting to pose a question to the forum - do you know the length of your lease? It is often left until the decision to sell that the full implications of a short lease value are properly understood. In general terms, the longer the lease the better and those with over 100 years remaining are not normally a problem from a valuation perspective. Legislation states that where the lease has less than 80 years remaining, the payment to the Landlord will have to include 50% of the marriage value (this term is explained in more detail below) when the leaseholder acquires a lease extension. The second problem when selling a short lease is that the majority of mainstream mortgage providers, as a rule, refuse to lend to a purchaser on lease terms of less than 55 years, so anything shorter will only be available to buyers who are paying 100% cash. Happy to answer any questions that the forum may have as I specialise in leasehold enfranchisement and know that this can be a very complex area of law.
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