How To: 4 ways to have someone else pay for your lease extension

The biggest hurdle for most flat owners with a short lease is not having the funds to extend the lease themselves. This can leave them stuck in the trap of having to offer their property at a discount and to cash buyers only - making it harder, slower and more costly to sell.

In brief, here are 4 methods you can use to get someone else to pay for your lease extension when selling:

1. Using the buyer's mortgages

• If done correctly, you can extend the lease at the same time as selling and use the buyer's mortgage based on the long-lease value of the flat.

2. Assisted Sale

• Property investors can pay for your lease extension prior to selling: You both benefit from the uplift in the property's value.

3. Using your own mortgage

• A lot of mortgage lenders will allow you to raise funds to pay for a lease extension on your mortgage. A mortgage broker can discuss this option with you.

4. Starting the process before you sell

• As a backup option, you can of course sell with the lease as is, your buyer will pay for the lease extension after completion. There are better and worse ways to do this - we focus on the route to get you the highest price possible.

To learn more about our marketing method for your specific lease situation then get in touch.