Yes, lease extensions are possible, but the cost increases as the lease term shortens. It’s advisable to extend a lease early to avoid high costs or difficulty in securing finance.
Leasehold mortgages are essential for purchasing properties with finite lease terms, common in flats. These mortgages consider factors like lease length, ground rent, and service charges. At Amortgageshop, we help buyers navigate leasehold complexities and secure the right financing, including advice on extending short leases to protect your investment.
When purchasing a leasehold property, you own the building for a set period but not the land it stands on. Leasehold properties are common, especially in flats, and require a specialised mortgage.
A leasehold mortgage is required when you’re buying a property with a finite lease term, which typically ranges from 90 to 120 years. Shorter leases can make securing a mortgage more difficult, as lenders require sufficient security on the property. Ground rent and service charges also need to be considered.
Book an appointment with our team to talk through your mortgage needs and get personalized advice at a time that works for you.
Our goal is to make the mortgage process as clear and straightforward as possible. We take time to understand your needs and explain each stage of the process so you feel confident about the choices you make.
UR PROPERTY MAY BE REPOSSESSED IF YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON ITYOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.
Amortgageshop is a trading name of Statsis Investments Limited, which is authorised and regulated by the Financial Conduct Authority (FCA No. 305712). Registered in England and Wales No. 04163647. Registered Office: 15 Hermon Hill, London, E11 2AR. We are a mortgage broker and not a lender. We offer mortgages from the whole of the market. We may receive commission from lenders. The amount of commission varies depending on the lender. We may charge admin fee which depend on complexity of the case. The Financial Conduct Authority does not regulate some forms of buy-to-let mortgage. Calls may be recorded for training and monitoring purposes.
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