What to do with with my property

[ibblebibbledibble]

I have a one bed flat from before I married, my husband’s work took us away so it’s been let out.
Now several children later, I struggle with time and money to know what to do with it.
It’s currently empty as the last tenant moved out last month.
There’s not a lot of interest as the bathroom/kitchen really need updating.
I’d struggle to sell as the lease really needs renewing.
I’ve contemplated taking the big financial hit and doing one of these ‘webuyanyhouse’ methods, or do I bite the bullet and put a new bathroom/ kitchen on a credit card?
Just wondering if anyone has any great ideas?!

Have you looked in to how much the lease renewal would cost?

You can replace the kitchen and bathroom but if you don't renew the lease it's only going to continue going down in value. If you can't afford to renew the lease I suspect it would be better to take the hit by selling it now.

Well I started to look into it and got told the solicitors alone would be £3000, possibly more depending on if there were complications so didn’t proceed.
Part of me thinks just get rid of it, I’ll still walk away with some profit. Part of me thinks get bathroom kitchen done and let for longer to get lease done another time.

How many years are left on the lease exactly?

Contact the freeholder to see how much they'd ask for a lease renewal.
That's the biggest problem as no one can even get a mortgage if the lease is too short.

Also, I have previously purchased a property where the seller couldn't afford to extend the lease but it was arranged as part of the sale process and the solicitor paid money to the freeholder on completion. That way I got a place with a long lease and they were able to sell it for a normal price - less the cost of lease extension. If you try to sell it with a short lease to a cash buyer, you'll need to reduce the price significantly to make all the hassle worth their while.

The refurb is a secondary thing - if nicely done, you could make more money out of it but if not done, you'll still sell it to someone looking for a project.

And if the bathroom and kitchen are so rubbish that no renter will touch the place with a barge pole, then it's probably so old that needs everything doing (e.g. Electrics, walls etc). That sort of a job costs ££ so not sth you can put on a card.

Yes, you need to sort out the lease- it gets much more expensive every year you leave it. You need to find out the cost and proceed from there, either extending your mortgage to cover that and your refurb (sounds like more faff than you need just now!) or to sell in the way the PP outlined above, with the buyer paying.
Don't ignore it!