Unlike freehold property, the value of leasehold residential property actually falls with the passage of time as the lease term reduces. This issue becomes increasingly pertinent as the lease term becomes shorter, as it becomes much more expensive to extend the lease when there are 80 years or less left to run on the lease. In addition, most mortgage lenders will not consider lending on a property with less than 80 years left on the term, as such this will have an obvious ne