Some residents of Bromsgrove may be interested to know that the longer it is left to purchase the freehold interest of their house, the more expensive it gets.
When there are less than 50 years remaining on the lease, it gets increasingly more expensive.
The houses built on Cherry Orchard estate were built in 1964 but the 99 years term commences 4 years earlier.
There are therefore currently only 44 years remaining on the lease thus being significantly more expensive than if there had been 48 years remaining.
If there are any spare funds available it is generally considered to be more advantageous to purchase the freehold than to pay off the mortgage.
The cost of the freehold only goes up.
It is exceedingly important to seek specialist representation in this field.
Name and address supplied
Bromsgrove
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here