MadelineBassett
Member
Finally caught up after making concerted late-night efforts over the last few days & I have thoughts on the flat-buying debacle. On one hand, I have some sympathy with first time buyers not fully understanding the impact of a short lease on a property; when I bought my first home I was still in my 20's & the 86yr lease sounded totally ok to me. It wasn't, cos I bought with a mortgage and as the lease length continued to drop, fewer and fewer lenders would have been willing to let me borrow, so I had to extend the lease once I'd lived there long enough to be allowed (which guest could do if she had the money but it can be expensive and a bit stressy) in order to keep it mortgage-able.
On the other, given guest's forever-whining about her forever-home, it does occur to me that if you have a child, it's pretty weird not to consider the fact that the lease would likely have run out during SB's lifetime if she'd ended up buying CarpMan's property. Which isn't very 'forever home-y', & being from a landlording family, I'd have assumed she'd have been keen for SB to inherit eventually.
I mean, maybe eventually she did realise that the lease length was a deal-breaker & maybe that's why she pulled out of the sale, but she's had ages to forensically research the whole flat-buying process, so it strikes me as especially bad form to have messed MrCarp around like that. You should iron out any concerns about lease length before making the offer IMO.
On the other, given guest's forever-whining about her forever-home, it does occur to me that if you have a child, it's pretty weird not to consider the fact that the lease would likely have run out during SB's lifetime if she'd ended up buying CarpMan's property. Which isn't very 'forever home-y', & being from a landlording family, I'd have assumed she'd have been keen for SB to inherit eventually.
I mean, maybe eventually she did realise that the lease length was a deal-breaker & maybe that's why she pulled out of the sale, but she's had ages to forensically research the whole flat-buying process, so it strikes me as especially bad form to have messed MrCarp around like that. You should iron out any concerns about lease length before making the offer IMO.