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When you bought the flat in 2006, 10 years ago, there were 81 years left to run.
What did the solicitors report on the lease say about the number of years left on the lease?
Do you now want to sell the property or remortgage it?
If you don’t want to sell the flat, and you going to live in it until you shuffle off the mortal coil, you can just let the lease reduce in the unexpired term and then let whoever inherits the property after you die, deal with a lease extension. The landlord cannot compel you to extend the lease.
A mortgage lender will not normally lend on a mortgage with less than 70 years left on the lease but that wouldn’t be your problem.
Can I clarify anything for you? Please rate the service positive so that I get paid. We can still exchange emails. Best wishes. FES.
It would not be the mortgage providers mistake, it could be either your solicitors mistake or the value is mistake.
The flat will be more difficult to sell with a shorter lease because it will need extending and hence, the valuation would be lower unless it is extended.