Trapped by a58-year lease.Sold in 12 days.
Derek's one-bed flat was perfect, apart from the lease. Lenders wouldn't touch it, buyers kept walking, and the freeholder wouldn't reply. Here's how we took the whole problem off his hands.
Own a short lease flat? Read the full guideThe story at a glance
One-bedroom flat, Ashcroft Court, Manchester.
A flat that ticked every box, except one.
Well looked after, in a good building, close to the city centre. Everything a buyer wants. And then the lease number.
Derek had lived in his one-bedroom flat on Ashcroft Court for over 20 years. When he decided to downsize and move closer to his daughter in Leeds in 2024, he discovered the lease had fallen to 58 years remaining.
Under 80 years, a lease starts to seriously affect value and mortgageability. Under 60, most mainstream lenders simply decline. Derek's flat was worth £105,000 with a long lease, but agents told him to expect offers 20–30% below that, if he could find a buyer prepared to deal with a short lease at all.
Want the detail on where those lines come from? Our short lease flat guide walks through the 80-year line, marriage value and what lenders actually ask for.
The problem wasn't the flat. It was the paperwork.
Derek got two valuations and listed with an agent at £85,000, already discounted for the lease. This is what four months looked like.
Two viewings, no offers
Both buyers lost interest the moment they understood the lease length.
A mortgage declined outright
One buyer's lender refused to lend at 58 years remaining, after weeks of waiting.
A freeholder who didn't reply
Slow answers about a possible lease extension added months of uncertainty.
A move date he couldn't plan around
Leeds was waiting, and Derek had no idea when, or if, the flat would sell. This is the same pattern as a collapsing chain.
Same flat. Three very different numbers.
A short lease doesn't mean a bad flat. It means a flat most lenders won't touch, and that is what pulls the price down, not the bricks.
Our offer took the lease into account, but without the months of back-and-forth, the failed mortgage and the risk of starting again with a lease a year shorter.
Derek's flat, three ways
The £85,000 listing never produced a completed sale. The £74,000 offer completed in 12 days, with no fees, no chain and no lender to fail.
We didn't just buy the flat. We sorted the whole thing.
Derek didn't need another viewing or another valuation. He needed someone to deal with it.
We explained the lease clearly
Derek's first call wasn't a sales pitch. Sarah from our team walked him through why the short lease was scaring off buyers and what his real options were, with no jargon and no pressure to decide there and then.
Day 1We dealt with the freeholder
Rather than asking Derek to chase a statutory extension himself, we spoke to the freeholder's managing agent ourselves and got the answers. The biggest headache was off his plate.
Week 1A fair cash offer, no haggling
We offered £74,000, which is a fair price for the short lease, without the endless back-and-forth of mortgage buyers. Derek accepted and we completed 12 days later, in good time for his move.
12 daysWhy a short lease stops most sales dead.
A short lease doesn't mean a bad flat. It means a flat most lenders won't touch, regardless of condition or location.
Once a lease drops near or below 80 years, mortgage valuations fall sharply. Under roughly 60 years, many high-street lenders decline outright.
That leaves sellers like Derek stuck between cash buyers who lowball aggressively and mainstream buyers whose mortgage applications collapse partway through, wasting months each time.
It's one of several situations that stop a mortgage buyer. If your property has a different problem, see how we handle an unmortgageable house, or read how we helped a seller in Sheffield.
Based in the north west? We buy across Manchester and Greater Manchester, from Salford to Stockport.
“The lease extension conversation had been keeping me up at night for months. Having someone take it over was the biggest relief of the whole process.”Derek, Manchester
What mattered most wasn't just the number. It was having someone explain what was actually happening, deal with the freeholder on his behalf, and give him a date he could plan his move around.
More customer stories and guides.
Different problem, same approach: we explain it, deal with it and buy it as it stands.
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Read the story Customer story · LeedsThe non-paying tenant
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Read the story Customer story · CardiffThe fire-damaged house
Uninsurable and unmortgageable, completed in 10 days.
Read the storyShort leases, freeholder delays, declined mortgages. We buy it anyway.
Tell us about the flat and we'll come back with a firm cash figure, sort out the paperwork, and complete when it suits you.
What you get
- We deal with the freeholderNo chasing managing agents or extension quotes.
- A fixed priceThe figure you accept is the figure you receive.
- Nothing to payAgent, legal and valuation costs are covered by us.
- Your timelineComplete in as little as 12 days, or when it suits you.
Details in this story have been adapted to protect the seller's privacy; amounts and timelines reflect a typical case of this kind.