5 Responses to “As a property buyer what is a sensible lease to go for on a flat?”

1. overmel Says:
   September 27th, 2009 at 9:21 am

   The longer lease you have, the better.

2. DH Says:
   September 30th, 2009 at 7:42 pm

   See a London Realtor, you can communicate by email if you are somewhere else.

3. Ollie Says:
   October 2nd, 2009 at 6:38 pm

   Hi,I would try to get free hold if not then at least a 50 year lease.Good Luck

4. Classy Granny Says:
   October 4th, 2009 at 12:29 pm

   I am in the USA, and own a flat. I live on the first floor and rent the upstairs. Tenants sign a one year lease. At the end of the lease, if they are desirable tenants you can let them re-new for another year. At the time of re-new is a good time to raise the rent usually 5 to 10 percent. That helps cover any increase in your annual expenses. Mine is a two bedroom and rents for $375. Many landlords in this city get more for the same. To keep it re-salable you need to keep up on needed repairs and make improvements as needed. No idea how much this helps with you being on the other side of the globe.

5. uaeoffplan Says:
   October 6th, 2009 at 5:26 am

   As long as possible, leases generally run from 999 years, 150 years or 99 years.

   Mortgage companies generally will not lend on leases below 60 years ( but there are exceptions)

   Lease extension can be very difficult and costly ranging from 2500GBP to 10% of the property value.