The selling client approached us originally to appraise the ground floor flat for auction, saying that they had tried unsuccessfully to sell the property using an estate agent and then Pattinsons Auctions. When we appraised the property, we advised that due to the low lease on this flat and the upstairs flat, which they also owned, it was the best advice they proceed to auction with us immediately. The leases were both well under 70 remaining, which meant that it would be near impossible to raise a mortgage on them. Additionally, our client's mortgages were coming to the end of the terms. As the client had neither the funds nor time to work through renewing the leases, it was the advice to set the reserve price at the redemption of the mortgages and auction fees, as it became imperative to sell what were now toxic assets. Both flats were tenanted at the time of appraisal and sale. Our team worked to put these on the market and offered them at auction four weeks later. The result was a successful sale, and the client was happy to know that they were no longer tied to the properties and their mortgages and they could move on in life without needing to worry about these further.