What happens if a lease on a leasehold property expires?

[@alisonnorcross951]

Nice to know all is not lost if the lease expires.

[@JoNNyCLOUD171]

Except it is. You are literally paying to rent the property by paying the rent in advance. Like what is the actual point. There is arguably a financial benefit by paying less rent over the time period you are alive with a mortagte than you would have ordinarily but even so. That is really limiting yourself to what you can do in life. Who the fuck thought the idea up and even more jarring what Muppet said yes I'll pay a mortgage to "own" a property for 99 years only to do the exact same again when the lease expires. Have fun when I'm dead kids.

[@BleedingSnow]

@@JoNNyCLOUD171 It's a scam, and if you fell for it, like I did, our only hope is to either (more difficult) purchase the freehold, which if you're in a flat would require most others to do the same. Or to keep extending the leasehold until you pay it off entirely, then, sell it off or keep extending and living. Not all is lost in terms of hope, but, the effort,pain and time spent to get the money we waste on this leasehold is a loss uncomparible to many out there, imoral yet legal.

[@ec5328]

Can we renew lease on flats?

[@bujler]

Yup. Try to do it before the 80 year mark, though.

[@jaredleha6270]

cheers