Extending a lease when freeholder as possessory title?Make Text Bigger
I own a flat with low lease 62 years on an Absolute title. However, the freehold deeds were lost and the freeholder now has a Possessory title a year ago (in 12 years they can upgrade to absolute).
I have paid for two surveyors and legal fees and negotiated a premium to extend the lease. HOWEVER, my absolute title would have to be surrendered when upgrading to the 999 year lease offered but the new lease would only then be possessory.
My mortgage lender will not be happy with a possessory title.
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