14 flats with only 50 years remaining on leaseMake Text Bigger
Bought these 14 flats approx. 8 years ago when the market was on the up with the idea of paying for the lease extensions through the increase in values over the following years. I paid around £80k each for them on interest only mortgages with a deposit of 15%. Now with only about 50 years remaining they are only worth about £50k (£75k with the extended lease).
I am looking for advise as to what other readers would do in my situation.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.