I am trying to buy a house that was built on Council owned land in 1971, subject to a lease of 15 Pounds/year for 150 years. There are 97 years of lease left on the house and I understand banks will not issue mortgages for properties with less than 75 years left on the lease.
Dun Laoghaire CoCo own the lease (transferred from Dublin City Council), and I intend to ask to buy it, if I proceed to buy the house. However, since there is a manhole in the back garden of the house, I was wondering if anyone knows whether local authorities can refuse to sell the lease on such houses. Alternatively, could DLR CoCo refuse to sell to me on any other grounds?
Thank you in advance!
Dun Laoghaire CoCo own the lease (transferred from Dublin City Council), and I intend to ask to buy it, if I proceed to buy the house. However, since there is a manhole in the back garden of the house, I was wondering if anyone knows whether local authorities can refuse to sell the lease on such houses. Alternatively, could DLR CoCo refuse to sell to me on any other grounds?
Thank you in advance!