Options for extending your lease – download your free information pack
Ownership of a long residential lease is a valuable asset. However, as the lease term decreases over time, so does the value (and saleability) of your property. It can also affect your chances of securing the best mortgage deal.
Leases are granted to the leaseholders for a set term such as 99 or 125 years. Once your lease has less than 80 years left, something called ‘marriage value’ applies to any valuation, which makes the lease considerably more expensive to extend – and reduces the value of your property.
The good news is that you CAN extend your lease, whether informally or through the statutory route, as the lease extension specialists at Brady Solicitors explain in this free download guide.