How To Extend A Lease & Profit From Leasehold Property On Short-Leases | Leasehold extension advice
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- čas přidán 18. 03. 2019
- If you own a flat with a short lease (ie less than 80 years), then you will need to know how to extend a lease and potentially profit from leasehold property on short leases.
This video provides leasehold extension advice for UK property investors and developers looking to extend a short lease. Bernie Wales provides valuable advice on the lease extension process
A simple strategy for savvy property investors is to purchase short lease flats and then go through the process of extending the lease. Bernie Wales is an expert at this and in this video, he explains the process of extending a short lease.
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The most concise explanation of leases I have found Thank you
very clear, nice pace of speaking and easy to understand with the slides backing it up. thanks
Thank you it was very easy to understand as I have been worried about my short lease.
Very much appreciate the upload of this video, helps us out of this situation that many view as a trap, and I agree to call leaseholds a scandal and imoral act by financiers and mammonists but this is the world we live in and at least you shed let on our escape from this. Thanks =)
Thank you for all information provided on your film. It was very helpful. As I just inherited a leasehold property with short lease.
This is fantastic. Thanks for uploading.
wow!!! I currently rent one of the last remaining Freshwater flats in the King's X area... I can see what this guy means by 'learning how not to manage property'...!
this video is quite helpful, thank you
What's the difference between a "valuer" and "surveyor" which should we use is we have 62 year lease (no mortgage)?
Very informative.
Barely liked.
13 comments?!
I don't understand I thought it was gold.
Perhaps people don't want to read and research.
RTBL.
Very interesting, I do wonder how lease holders make money. I assume they need a special type of mortgage or they need to own the property outright in order to do a leasehold on their property?
If I have a standard mortgage and do a leasehold, the mortgage amount every month say is £1000 to make the example easier. That would be £12k per year. After 10 years a £100k lease hold would become non profitable. Also when selling the freehold with a leasehold, they are sold for a very low price, from what I have seen. It seems to me the only real way a freeholder can make money on a lease hold is if they own the property outright and then hope the leaseholders end up selling them back the lease hold at a low price within a short period of time.
Buying lease holds seems like the worst of renting and buying. You have to pay for all the maintenance and yet you don't own it.
Leasehold from what I can see means you either, extended to achieve remortgageability when in late future to sell and also to get a peppercorn to avoid the ground rent plemmeting which you have to do, whilst you expect the property value to go up, or, make it gp up (further investment which means you need capital to begin with).
Is how I can see you MAY be able to ern money, but, at the end of the day, it's a scandal and a dirty trick by Capitalists and wealthy pick pockets :)
@@BleedingSnow The ground rents are not that significant even over 10 year period, in the context of the freehold cost of the property. I still struggle to understand how leaseholders make money as selling a property off leasehold is usually less than the freehold price. I assume they hope people will leave and they can buy it back at a lower price at auction or something. Still seems like a dodgy strategy, why not just rent it out. If they need money then sell the freehold...
@@tomatobrush3283 True the groudn rent for 10 yrs is not significant, but, if ti takes you a long time to sell off the property, the decades can stack up if it is at a doubling rate, especially if whoever you pass the asset onto decides to sell in future, noyone will purchase it with a extreme groudn rent that doubles in their time of leasehold.
Leasehold will always be less than freehold price, but that does not mean leaseholders can;t make money, just not as much as freeholders. Like I said, keep the leasehold above 80yrs absolute min for remorgage-ability as a must, and then the part about actually makign money is either expecting/hoping the property value to go up through scarcity or location, or investing it yourself to up the value.
So on those 2 factors it entirely depends on your capital and how you spend it, and the value of the property as time goes on which is dependent on a million things, if you have a place in London you can probably rely on that value to increase, if in the middle fo nowhere, you're probably going to likely to have to make the value go up yourself.
That is my udnerstanding, I could be wrong as it's all thoughts rather than experience, but, like I said, ofc not ideal or a great place for leaseholders to be in, but if you have a leasehold you can take comfort in the fact there is a way out of the dark.
What about houses?
What's the point on a 120 years lease youl be dead by the time you get the property back
Does this also apply to houses that are leasehold as this only mentions flats?
Leasehold system is a scam plain and simple and these greedy business knows about...
Leaseholds should be scrapped.
That is true in many cases.
The freeholder, however, has made the investment and does need to be compensated.
It's just how people used to historically rent property before people started wanting to move all over the place all the time.
@@alexjames1146 No they shouldn't dirty practice
Outdated video