UK Landlord Forum / Life

How much does a house de-value if it's only leasehold ??

A family member who bought his house more than 60 years ago but only owns the house not the land , is passing it onto his grand-daughters , but how much less would it be worth ??

Theres still 44 years left on the lease.

Thanks in advance

In some cases it does not de value the property at all. In this case the bank would regard a 44 year lease as rather short and de value it. A 999 year lease is not going to bother a buyer but 44 years will. Your best bet to add value is to purchase the freehold or to renew the terms. (probably 100 years for your property)

I heard that if you do any work on the flat lease that increases its value, you must pay half of the freeholder board, even if they have no intention of selling house.Sounds a bit dubious to me, but I am just the one I have heard of someone who bought the fixer upper leasehold.