Leasehold enfranchisement refers to the rights of flat or house owners to either extend their lease or purchase the freehold of their homes. Leases are typically granted for 99 or 125 years, but as the remaining term decreases, especially below 80 years, the property's value declines, making it difficult to mortgage and eventually sell. The law provides a procedure for extending your lease by adding 90 years to the remaining term.
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