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.
Eight in 10 homes in London’s poshest postcodes now sell below asking
price, Coutts finds
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Sellers in areas such as Belgravia and Mayfair face hundreds of thousands
of pounds in losses as property prices fall
Eight out of 10 properties in Londo...
8 hours ago
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