It is very easy to find out how long a lease is left on a property, and there are a couple of ways you can go about doing it.
If you are buying a property from an estate agent, they should be able to provide you with this information.
A good rule of thumb is to ask your estate agent to see the Leasehold Title and then they can point out where to find they information in the paperwork.
Your Conveyancer or solicitor will also check this information, but unless you have a no sale, no fee solicitor, you may want to get this information before going to the expense of proceeding with the sale via your solicitor.
Another option is to download the Office Copy Entry of the Leasehold Title from the Land Registry at this link: http://www.landregistry.gov.uk/
It will cost £7.00 but it will spell out in black and white how old the lease is.
Where you will find the information on a Leasehold Title
When you read the document you are looking for wording that will appear something like this:
(29.10.2010) Short particulars of the lease(s) (or under-lease(s)) under which the land is held:
Date : 9 July 2010
Term : 99 years from 9 July 2010
So you need to do a bit of maths to figure out exactly how long is left on the lease from the date you accessed the Leasehold Title.
The Leasehold Title will also tell you how much the ground rent will cost you.
What is considered a short lease?
Generally speaking, a lease of 60-70 years or less is considered short and it will affect the price of your property.
Are you concerned that your property has a short lease? Call us for free advice and an up-to-date valuation of your property on 020 8740 6622 or ask us questions via Twitter @Northfieldslive.