Extending Your Lease
Most new leases have a life of 125 years, which will allow you to obtain a mortgage and maintain your property's value.
Over time, the life of your lease will reduce and there will come a point where you can consider extending it. If you own a property with a relatively short lease remaining, this could affect your ability to get a mortgage, sell the property and the value of the property may fall.
There is no fixed time at which you should apply to extend your lease, but it can be more expensive to extend leases with less than 80 years remaining. If your lease is nearing the end of its life, you can contact us to discuss your options.