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What does 'Lease Extension' mean?

Lease Extension

If you are buying, or own, a leasehold property this is simply something which you may keep for a number of years (the lease length) and then must return to the freeholder. You can, however, increase the lease length. This is done by agreeing with the freeholder (or via arbitration) how much more the property would be worth with the longer lease. This figure is paid to the freeholder.

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"... the lease 50 to 60 years: It is still possible to raise a mortgage on such lease lengths although the perception of buyers is very different. A higher degree of concern over resale value or the costs of a lease extension will now start to have a substantial affect on the value Less than 50..."

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Author of How to Really Buy a Property

I'm Tim Hill, Author of How to Really Buy a Property. I'm a property buyer, seller, landlord, tenant and I've been an agent in hundreds of transactions. I own a property portfolio across Europe but that doesn't mean I think you should to!

This book is my collective knowledge and experience that I have gained working within the property market of England and Wales for over a decade. I've written it so that you can benefit from what I have learnt whether you are a first time buyer or a budding buy-to-let investor.

There are no gimmicks here and no get rich quick schemes - just practical no nonsense advice so you can buy the property you want at the best price with the least stress.

Download the Free Preview copy right now. I won't be asking for your email so I can bombard your inbox with 'special offers' and 'discounts' because I know most people who read the Free Preview buy the full copy. See for yourself!