Risks Buying Leasehold Property May 2026

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Risks Buying Leasehold Property May 2026

The real crisis hit three years later when they decided to sell to move closer to Sarah's new job. Their mortgage advisor dropped a bombshell: because the lease had now dipped below 80 years, the property had hit the "marriage value" zone. Extending the lease would now cost tens of thousands of pounds because the freeholder was entitled to 50% of the "profit" the extension would add to the property's value.

The financial pressure mounted when they noticed their monthly service charges were creeping up. The management company, appointed by the freeholder, added administrative fees for everything from hallway cleaning to lightbulb replacements. When Mark tried to install a small satellite dish for better internet, he was hit with a "notice of breach." The lease strictly prohibited any external alterations without written consent, which came with a £250 application fee and no guarantee of approval. risks buying leasehold property

to look for in a lease agreement (e.g., doubling ground rent) Steps for extending a lease before it hits the 80-year mark The difference between Leasehold and Commonhold structures The real crisis hit three years later when

Mark and Sarah thought they had found their dream home: a sun-drenched flat in a converted Victorian villa. The price was significantly lower than similar freehold houses in the area, which allowed them to keep a healthy savings buffer. They knew it was a leasehold, but the estate agent assured them that with 82 years left on the lease, they had plenty of time before needing to worry. The financial pressure mounted when they noticed their