Lease extension

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    Lease extension

    Hi
    I'm thinking of buying a property at an auction with a lease of 8 years
    I have 3 questions:
    1. Is there an online calculator that i can use to estimate how much it will cost me to extend this lease?
    2. Under what lease term do mortgagees not lend?
    3. Would i need to own the property for 2 years before i seek an extension?
    Thank you

    #2
    The free guide to lease extension is available by download from LEASE :

    http://www.lease-advice.org/publicat...ent.asp?item=8

    Comment


      #3
      At such low terms none of the online calculators will assist

      Most lender like to see 25-30 years left after the mortgage term has ended. There are a couple of lenders who will lend on short term leases on the major estates of London (i.e. the Grosvenor estate etc) but I would think 8 years is just too short

      Yes you would have to wait 2 years

      Comment

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