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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10585
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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I have a leasehold property with only years left and I cannot

Customer Question

I have a leasehold property with only 69 years left and I cannot afford to buy the freehold or extend the lease, so what happens when I die as far as my only daughter is concerned?
Submitted: 3 years ago.
Category: Law
Expert:  Matt Jones replied 3 years ago.
Matt Jones : HI I will try and help
Matt Jones : Can I ask how old your daughter is ?
Matt Jones :

Hi I notice you have left me bad service feedback but you didn't reply to my last query.

Expert:  Aston Lawyer replied 3 years ago.

Hello and thanks for using Just Answer.

My name is ***** ***** am happy to assist you with your enquiry.

You are correct that a Buyer is unlikely to be able to get a Mortgage on a Leasehold property that has less than 65 years remaining on the Lease.

Not all is lost, however.

In these circumstances, it would be normal that as and when the property is sold, you/your Daughter acquire the Freehold and complete the Freehold purchase ont he same day as you complete the Sale. This way, you can use the Sale monies to pay for the Freehold.

It would of course be best to acquire the Freehold sooner rather than later, as the Price will increase over the coming years, but if this is not possible, you/your Daughter can just acquire it as and when the proeprty is sold.

I hope this assists and answers your question.

Kind Regards

AL

Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10585
Experience: Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
Aston Lawyer and other Law Specialists are ready to help you
Customer: replied 3 years ago.

The reason for my bad feedback was that it said you had gone offline soI didn't authorise the payment and left your site. I must say I know I'm 80 but I didn't think the site was very clear in telling you what to do. Sorry about the bad feedback but can you see where I'm coming from. I have already emailed your Customer Services, asking for a refund. You see I was very worried when I gave my credit card details that on your site it stated that my email address was being used by someone else, so it was then I didn't authorise the payment. What a mess! It really made me feel quite ill. I do apologise to you personally. but not your site. Sheila XXX

Customer: replied 3 years ago.

I did email to say I was sorry about the feedback I gave in the first place due to the web page not being very clear to me, and I thought I had been charged but got no answer. Thank you very much for the answer which I wanted confirmation for what I thought it would be.

Expert:  Aston Lawyer replied 3 years ago.

Hi,

Many thanks and no worries.

If you are happy with my Answer, I would be grateful if you could leave positive feedback, so I may get credited for my time.

Kind Regards

AL