I think I must have murdered somebody in a past life!


Had the valuer for my buyer come last week, he values my property at £10,000 less then the asking price. Part of the reason was it only has 79 years left on the lease. This has never been hidden from anyone and the information was there from the outset. So I was given two options as he couldn't get the money from his lender otherwise.
Option 1, put the property back on the market. However that would mean I would lose the property I am buying no doubt.
Option 2, drop £10,000 from my asking price.
Reluctantly I took option 2. The only reason was that we got the property we are buying for £10,000 less than what we had budgeted for. So just means less money in the bank at the end of it.

So this morning I emailed the housing association just to asked to kept up to speed on my buyers progress. a few hours later they emailed me back to say he has asked to be given until Monday to look into extending the lease and the costs involved.

I'm no expert but I have always thought it was the housing associations responsibility to extend the lease as they own the whole building, I just own 75% of my flat. Why would I pay for a lease extension that would benefit the whole building and all the flats within.
I have emailed them to ask and I await their reply. But looks like I am not moving anywhere. Harlene is at work so I haven't told her yet... but I know she will be as disappointed as me.


So unless the lease can be extended at a very cheap price, which I doubt. I am stuck here forever as no bank will lend the asking price on the lease and I fear it will put potential buyers off.... Or I'm just going to get in a vicious circle of getting to this stage each time for the buyer to drop out. and I can't afford to keep paying out money for nothing. I must have spent about £1000 so far on house moving related costs!