lease on property

[B.Bee]

At what age do you need to renew a lease and will the freeholder contact you about this before?

[Catso]

You only need to renew when it's about to expire, but it would be prudent to sort it out well before that.

It depends on what the lease is of. Assuming a house, the length of remaining term will affect saleability and mortgageability. Mortgage companies will each their own standards - not sure, but I think these are usually in the area of a few 10s of years. Ask your mortgage company.

I wouldn't rely on the freeholder, no.