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I am purchasing 1 of 6 flats in a conversion property (due to exchange this week). I am buying a share of the freehold but the lease is 71 yrs now. My solicitor said that as we are not renewing the lease at the same time there may be a problem with this after and if we can’t renew it the flat may be unsellable.
Is this the case and what are the obstacles that may prevent us from renewing it? All the flats have 71 yrs and nobody has applied to renew yet.