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Thursday, 7 April 2016

How to extend your leasehold’s length

In a previous article we explained the difference between owning a leasehold and owning a freehold. This article looks specifically at how to extend the length of a leasehold if you own one.

If you have bought a leasehold to a property, you own the right to live in that property for a specific number of years. Eventually however, your lease will run out and the ownership will return the freeholder. Additionally, if you have less than 60 years left on your lease it will be almost impossible to remortgage which will drastically reduce your ability to move home. Therefore you should avoid allowing your lease to drop below this threshold.