Is the process that a Leasehold Owner would go through to extend their Lease, or to purchase Share of Freehold. Short Lease properties can be difficult to raise a Mortgage against. A Lease may be considered short once is drops below 70 years, and past this point the value of the property will start to decrease. Lenders will allow you to raise monies against a property to pay for Lease Enfranchisement, if the Lease Extension is to be granted simultaneous to the drawdown. The Lender can instruct their Valuer to state the value of the property once the lease is extended (normally higher) in which case this would allow more borrowing than is possible when the lease is shorter.
