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It effects the value of your estate and you wont get a mortgage on a short lease very easily.
by C1sc0cat 8y ago
It effects the value of your estate and you wont get a mortgage on a short lease very easily.
- mcv 8y agoIt's also not necessary for a short lease. If you're going to pay every month or every year, a mortgage is pointless. If you want to pay it off for 50 years, that's when you're probably going to need a mortgage.
- falsedan 8y agoIn the UK, this part: > In the UK, usually you negotiate for the occupier to refresh the lease before concluding the sale is a requirement your mortgage lender will impose. Yes, it puts a burden of a few hundred pounds of solicitor's fees + lease renewal to get the leasehold reset when your executors/inheritors dispose of the property.