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Extending your lease can increase your rights and help further secure your future

For leaseholders, as the length of a lease decreases, there could be significant impacts on their ability to re-mortgage or sell their home. Many may qualify for a lease extension which can put them in a much better position when it comes to having control over their home.

There are so many benefits to extending your lease and if you are concerned about this we suggest you take a look at them below:

  • Access to financial products

Extending a lease will make it easier to secure better deals when re-mortgaging. This is because lenders think leases below 80 years are less secure for the purposes of a loan.

  • Makes your home easier to sell

A property with a longer lease may be more attractive to potential purchasers and easier for a buyer to finance through a mortgage.

  • Secure the value of your property

A longer lease will help to keep your home’s value in line with the wider housing market.

  • Shorter leases can cost more

The more time left on the lease, the less it costs. It also increases with property values so it may be more expensive in a strong market.

For more information about extending your lease drop our Lettings and Leasehold Team a line on 0300 5000 600 or yourhome@connecthousing.org.uk

For independent advice, you can also visit this government funded website: www.lease-advice.org

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Connect Housing Association Limited is a charitable association registered in England and Wales under the Co-operative and Community Benefit Societies Act 2014 (Company No. IP17445R) and with the Regulator of Social Housing (No. L2285).

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