Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 3 weeks ago 35
I would like some advice regarding purchasing a property the property is made up of a ground floor cafe located in a good location in a sea side town centre, which has 3 floors above the cafe, with 6 bedroom accommodation. However, the lease is only 21 year lease due to expire July 2027.
I would like to know the requirements and process regarding renewing the lease I think that the shorter the lease is the more expensive it would cost to renew it.
Also would it be advisable to request the lease renewed prior to purchasing the property, or can I make a request to the seller to extend or renewal the lease prior to purchasing?
Any advice would be appreciated.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agentsLearn More