Do You Want to Sell Your Flat With a Short Lease?
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Do You Want to Sell Your Flat With a Short Lease

Selling flats with short leases

A leasehold is a form of long-term tenancy where the purchaser buys the right to live in the property for a stated time. This is usually 99 or 125 years. There are many leasehold properties that are considered to have a short lease. A short lease is anything below 80 years and many mortgage lenders will not provide a mortgage on properties that have a remaining lease of 80 years or below.

The remaining number of years is important to buyers and sellers because if your lease expires, then the ownership will automatically revert to the freeholder. If you need help and guidance selling your flat that has a short lease, then get in touch with us.

Selling flats with short leases​

Selling Your Flat with a Short Lease

At Sell-Fast, we understand the challenges when selling a flat with a short lease.
With our experienced team, we can guide you through the challenges you may face.

You can find some important information below for selling your flat with a short lease.

Lease length

Lease length

Buyers may be reluctant to buy a flat with a short lease because it might make it harder for them to get a mortgage. In general, short leases are those that have less than 80 years left. It can prove to be difficult to sell a flat with a short lease and the shorter it is the more difficult it can be.

Lease extension

Lease extension

You may wish to think about extending the lease before putting the flat up for sale in order to increase its appeal to potential buyers. The property's value may rise and its sale may be simpler as a result of the lease extension. To learn more about your possibilities, speak with the freeholder or a solicitor who specialises in lease extensions.

Section 42 notice

Section 42 notice

The Leasehold Reform, Housing, and Urban Development Act of 1993 allows you to serve a Section 42 notice if you and the freeholder are unable to come to an agreement on a lease extension. With the help of this notification, you may start the legal procedure of requesting a lease extension.

Informing potential buyers

Informing potential buyers

It's crucial to provide potential buyers with clear and accurate information regarding the lease duration while marketing the property. To prevent future misunderstandings or problems, transparency is essential.

Professional advice

Professional advice

Think about speaking with a solicitor with experience in leasehold properties. They can help you with the legal nuances, provide you choices for extending your lease, and guarantee that all the necessary laws are followed.

Transparent process of buying your short lease flat

Transparent process of buying your home​
Step 1

Complete our online registration form

Fill out our online registration form so that we can better serve you.

Step 2

Receive a call from us within 24 hours

A team member will call you within 24 hours to better understand your needs and discuss how we can help.

Step 3

Receive an offer within 48 hours

Within 24 hours of viewing your property, we will make you a no-obligation cash offer.

Step 4

Sale Agreed

Afer agreeing to the sale, you can relax. We'll cover all the fees, ensuring a timely completion.

Popular areas we service​

Popular locations we service

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We buy homes and apartments for cash in these areas.

Sell Your Flat with a Short Lease in as Little as 7 Days

A flat with a short lease has many challenges. The biggest challenge that you as a seller will face, is finding a cash buyer, as most lenders will not provide a mortgage on a short lease. Your options may be limited but at Sell-Fast we specialise in transforming challenges into opportunities.

Need help & support selling your flat with a short lease?​

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FAQs
Listed below are some common FAQs for selling a short lease flat.
If you cannot find an answer to your question, then simply contact us today for a free consultation.
Short lease flats are leasehold properties with short lease terms. A short lease in the UK is normally less than 80 years. Lease periods vary from 99 to 999 years.
When you sell a flat with a short lease, it can mean a few different things. Buyers may be hesitant to buy a property with a short lease because it can lower the property’s worth, make it harder to sell in the future, and make it harder to get a mortgage. Also, leaseholders might have to extend the lease before selling to get more people interested.
The amount of time left on a lease can change how much a flat is worth. In general, the value of a flat goes down when the lease is shorter. As the length of the lease gets shorter, the cost of extending the lease can go up by a lot. Buyers are usually more ready to pay a higher price for homes with longer lease terms.
Yes, you can sell a flat with a short lease without extending it. You should know that the market for short-lease homes can be small, so you may get fewer bids or a cheaper price. If you want to sell your house, extending the lease can make it more appealing to possible buyers.
A lease extension is the formal term for the process of extending the lease on your flat. The process may involve talking with the freeholder, paying a fee to extend the lease, and getting help from a solicitor who specialises in leasehold issues. It’s best to get help from a solicitor or a company that specialises in lease extensions.
Yes, you can speak to the freeholder about the cost of extending the lease. Among other things, the remaining lease time, the property’s value, and the ground rent are used to figure out the cost. It’s best to get help from a solicitor or someone who specialises in lease extensions. They can help you negotiate the best possible terms.
The time it takes to extend a lease can vary. It usually takes a few months to finish, but the exact time relies on things like how complicated the case is, how quick the freeholder is, and if there are any negotiations. To avoid delays, it’s best to start the process long time before you want to sell your flat.
Yes, you can sell a flat with less than 80 years left on its lease. But it’s important to know that once the lease is less than 80 years, it much more expensive to extend it. The growth in the property’s value because the lease was extended is the marriage value. If the lease has less than 80 years left, it’s usually better to extend it before selling.
Yes, it is important to let possible buyers know the remaining length of the lease. The Consumer Protection from Unfair Trading Regulations of 2008 say that you have to give correct and useful information about the property you are offering. By letting everyone know how long is left on the lease, problems can be avoided in the future.
It can be hard to sell a flat with less than 30 years left on the lease. Most mortgage lenders probably won’t finance homes with leases that end so soon. Buyers may only be able to buy if they have cash on hand or are willing to take on the risk and the cost of extending the lease right after buying. In these kinds of cases, it’s best to talk to a professional.
If your lease is 80 years or less, this may be your only choice because many lenders won’t provide a mortgage to a potential buyer. It’s always best to talk to a solicitor because they can help you through the process.
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