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Mark and Sarah thought they had found their dream home: a sun-drenched flat in a converted Victorian villa. The price was significantly lower than similar freehold houses in the area, which allowed them to keep a healthy savings buffer. They knew it was a leasehold, but the estate agent assured them that with 82 years left on the lease, they had plenty of time before needing to worry. risks buying leasehold property
Potential buyers vanished. Most lenders refused to offer mortgages on properties with less than 75–80 years remaining, fearing the dwindling security. Mark and Sarah found themselves "lease-locked"—trapped in a home they couldn't easily sell, paying rising ground rents to a freeholder they had never met, for a building they realized they didn't truly own. They had bought a home, but they had really just purchased a very expensive, long-term tenancy. If you'd like to dive deeper into how