Leaseholders Ready To Take Action

More than half (55%) of older homeowners who own leasehold properties in England and Wales would consider buying the freehold or extending the lease, research from equity release adviser Key has found. Homes owned on a leasehold basis account for around one in four sales a year and once a property has less than 80 years left on the lease, it becomes more expensive to extend the lease and in sometimes buyers can find it difficult to get finance to purchase the property. Key’s study found more than two in five (41%) of over-55s with leasehold properties have terms of less than 80 years to run and nearly one in five (18%) have less than 50 years left on their lease. Read more on the Property Wire website.

https://www.propertywire.com/news/uk/leaseholders-ready-to-take-action/