Buying a Property With a Short Term Lease Explained (UK)

This short podcast explains what you should look out for when purchasing a property with a short term lease. Should you avoid buying a property with a short term lease?

When leases are granted they're normally given a term of 125 years. When buying a new leasehold property, this does not create a problem. Older properties can prove more problematic and should be approached with caution.

A lease with less than 65 years to run will significantly decline in value, which will mean fewer people will want to purchase it and also banks and mortgage providers will be less likely to lend on them.

If you're looking to buy a property where the lease is approaching 80-75 years left to run, you should consider whether the short term lease can be extended. You should always enquire as to whether the owner has had contact with the landlord to explore the potential of extending the lease.

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