Location Vs leasehold

[yesterdaystotalsteps123]

I'm looking to move but in my price bracket and location the majority of the houses are leasehold. I'm viewing one next week which has enormous potential but leasehold, advert doesn't state how long lease is so that will be one of my questions. Does anyone think it makes that much of a difference?

Depends on the length of the lease. If I remember correctly there needs to be something like 75 years left on the lease at the end of the mortgage term. You have to think of this for onward buyers in future, too.

Why is the house leasehold? I’ve only come across leasehold flats. In any case, research what it would cost to buy the freehold.

@yesterdaystotalsteps123 - question is what your mortgage company are willing to offer under the leasehold conditions. Personally, I would avoid leasehold and go for a freehold if possible. However, I appreciate you have an issue due to location etc.

hoa.org.uk/advice/guides-for-homeowners/i-am-buying/getting-mortgage-leasehold-property/

"Will my mortgage be more expensive? Mortgage rates on leasehold properties can be higher, depending on the length of the lease but where you will almost certainly see a difference is in the loan to value (LTV) available. The LTV is the ratio of how much you borrow against the cost of the property. For a £200,000 property, for example, if you have a deposit of £40,000 you’ll need to borrow £160,000, or 80% of the property value. Lenders tend to offer lower LTVs on leasehold properties."