It is very easy to find out how long a lease is left on a property.
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.
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 £4.00 but it will spell out in black and white how old the lease is.
Where you will find the lease information on the 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 math 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 be.
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.
Need to find out how to extend your lease? Find out more about extending your lease by reading this article.
Not sure what the difference is between leasehold and freehold properties? Find out more by reading this article that explains the difference.
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.