you do need to get that extended at some point, as doubtless you well know
not a problem for you, but it will mean that you'll struggle to sell, as any purchaser wouldn't be able to get a mortgage on that. mind you, there are agencies that specialise in hooking up cash buyers with shorter term leases.
( rachelswipe with a fork, Fri 11 May 2012, 14:06, 2 replies, latest was 12 years ago)

Not sure where the old tramp will find the cash to buy a lease extention though

( Naked Ape call me Caitlyn, Fri 11 May 2012, 14:07, Reply)

*looks down back of sofa*

*sells sofa*
( Monty Boyce, My cheese game is strong, Fri 11 May 2012, 14:08, Reply)

I do indeed know
but it looks like being 25k odd to sort it: not something currently possible for me, as you'd imagine.
( Monty Boyce, My cheese game is strong, Fri 11 May 2012, 14:07, Reply)

No probs, you have 67 years to save up

( Naked Ape call me Caitlyn, Fri 11 May 2012, 14:09, Reply)

So, if he doesn't extend the lease, what happens?

(Bazongaloid, Fri 11 May 2012, 14:10, Reply)

it reverts to the landlord
like any lease
( rachelswipe with a fork, Fri 11 May 2012, 14:12, Reply)

I believe the ownership of the property is transfered to the lease holder
which feels criminal really
( Naked Ape call me Caitlyn, Fri 11 May 2012, 14:12, Reply)

Jesting aside
that's kind of my plan. Assuming I can hang on here*, I will have no mortgage by my early 50s and will borrow the money to add 99 years or whatever then.

*BIG assumption
( Monty Boyce, My cheese game is strong, Fri 11 May 2012, 14:11, Reply)

if you are happy in the same place until then, that's not a bad plan at all

( rachelswipe with a fork, Fri 11 May 2012, 14:13, Reply)

I could do with another bedroom but am resigned to being there for the forseeable,
at the very best.
( Monty Boyce, My cheese game is strong, Fri 11 May 2012, 14:17, Reply)

You could get one of those posters of a cat hanging from a washing line and it says "hang on in there" underneath

( Naked Ape call me Caitlyn, Fri 11 May 2012, 14:13, Reply)

Replace the TAKE ME TO YOUR DEALER one?
Never!
( tangledupinblue hairy badge with moving eyes, Fri 11 May 2012, 14:28, Reply)

MonaLisasmokingjointlolz

( Monty Boyce, My cheese game is strong, Fri 11 May 2012, 15:05, Reply)

I had you down as a "packet of marijuana cigarettes poster" man
or that tennis bird scratching her arse.
( The Light in Chains don't touch the Pope's boner, Fri 11 May 2012, 15:16, Reply)

you'd be paying all 3 bits of the statutory equation
which is based on the market value of the flat. plus you have to pay the landlord's legal costs.

it does suck. the only thing is that it is usually reflected in the purchase price by the time you get below 80 years. eg i saw a stunning flat in south ken when i was looking; it was only £500k for a 3 bed top floor flat with a terrace. i sniffed a rat. a giant stinking sewer rat. sure enough, foxtons admitted sheepishly it had 7 years left on the term. valuer estimated cost of extending for another 90 years to be £1,500,000. so basically... a £2M flat.
( rachelswipe with a fork, Fri 11 May 2012, 14:10, Reply)

For the porridge wogs amongst us...
..speak English woman.

What is this fucking lunacy?

Up here, you either buy a house and it's yours forever, or you rent. It's not fucking difficult.
(Reverend Fister "a disciplined fuckwit", Fri 11 May 2012, 14:19, Reply)

technically, the queen could still take it off you, jock

( rachelswipe with a fork, Fri 11 May 2012, 14:34, Reply)

It sounds like a load of old bollocks to me
I hope she carks it soon, for your sake.
(Reverend Fister "a disciplined fuckwit", Fri 11 May 2012, 14:36, Reply)