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Aimez
Posts: 29 Forumite
Hello all,
Hope this is the correct place to post this! I am in the final stages of buying a Coach house. To be clear this is like an end terrace with two garages underneath a flat basically, one is mine the other is the neighbours. I am the freeholder, I have pages of covenants and as a first time buyer is all just scary to me.
So I am allowed to charge them a leasehold fee correct? No idea where to start and I believe they are entitled to contribute to the buildings (assume not contents??) insurance.
I have done a bit of research as currently have the nightmare of trying to get buildings and contents insurance; comparisons websites no good for this and a lot of places just refuse to cover it (I have another thread about this elsewhere!). I will end up getting buildings and contents together as hardly anyone even quotes me so far. Any help much appreciated!:)
Hope this is the correct place to post this! I am in the final stages of buying a Coach house. To be clear this is like an end terrace with two garages underneath a flat basically, one is mine the other is the neighbours. I am the freeholder, I have pages of covenants and as a first time buyer is all just scary to me.
So I am allowed to charge them a leasehold fee correct? No idea where to start and I believe they are entitled to contribute to the buildings (assume not contents??) insurance.
I have done a bit of research as currently have the nightmare of trying to get buildings and contents insurance; comparisons websites no good for this and a lot of places just refuse to cover it (I have another thread about this elsewhere!). I will end up getting buildings and contents together as hardly anyone even quotes me so far. Any help much appreciated!:)
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Comments
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If you don't fully understand what being a freeholder entails, pause proceedings and make an appointment with your solicitor to walk through it in detail before going any further. Being a freeholder is a responsibility to be taken seriously, both for your leaseholders' sake and for your own please make sure you understand it before you buy!0
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The other garage 'owner' will have a lease. This is an agreement between them (via all the previous owners of the lease since it was created) and you (via all the previous freeholders since the lease was created).
It will specify the rights and responsibilities of both you, the freeholder, and them, the leaseholders, including possibly:
* who insures, and who pays for insurance
* any annual ground rent due and how much
* who arranges repairs, and who pays
etc
Read the lease. If you don't understand it, pay a solicitor to explain it.0 -
I know someone who insures their coach house with a firm called Paymentshield if that helps. I'm sorry but I can't help you with the freehold element.0
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Be gentle please I am a first time buyer! It does not state actual figures just what I am responsible for and what they are responsible for and that they are entitled to pay towards the building insurance but no figures and it from 2012 when it was built. I am already being charged more by the solicitor because I am using some gift money as part of my deposit. I am going to get charged more for this then can see it coming, great. I will ask them for more info. Cheers guys0
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Okay just for anyone who may search on here about coach house, and I did as have a few other I noticed. The reason there were no figures in the covenant is that this 2012 build is part of an estate that is not finished yet and there is no management company yet that will deal with this and the fees each homeowner has for maintenance of the estate. So the previous owner been paying buildings insurance all that time for the lease holder of the other garage.0
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I have a town house in Swindon, with two garages under a coach house, I didn't understand when I first bought the house and thought I was being tricked into buying leasehold garages owned by someone else. After a long discussion with my solicitors they advised and showed me on the deeds the garages do belong to the house/owner. Because the coach house is a freehold property, this means you can't have another Freehold on the same plot, so these garages have to be called Leasehold. A management company looks after the grounds and you pay a ground rent, that is all - mine is £175 annually. Why they call them Leasehold garages I really don't no, but the councils/government should call it something else not to confuse people as we are not actually leasing them. Another point on the Deeds is that the House Plot Number is also shown on the garages, you can't sell or buy them separately as they are part of the house value. I hope this helps when buying and selling these properties, as you are getting good value for money.0
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I have a town house in Swindon, with two garages under a coach house, I didn't understand when I first bought the house and thought I was being tricked into buying leasehold garages owned by someone else. After a long discussion with my solicitors they advised and showed me on the deeds the garages do belong to the house/owner. Because the coach house is a freehold property, this means you can't have another Freehold on the same plot, so these garages have to be called Leasehold. A management company looks after the grounds and you pay a ground rent, that is all - mine is £175 annually. Why they call them Leasehold garages I really don't no, but the councils/government should call it something else not to confuse people as we are not actually leasing them. Another point on the Deeds is that the House Plot Number is also shown on the garages, you can't sell or buy them separately as they are part of the house value. I hope this helps when buying and selling these properties, as you are getting good value for money.
And your point is.....?
Do you have a reason to comment on a post that is a year old?Eat vegetables and fear no creditors, rather than eat duck and hide.0 -
Yes I do have a point, read the forum and other forums. People are still not sure when buying a house with garages under coach houses. If people read negative answers like most forum threads then they are put off, or pulling out of the sale for not understanding the legals behind these sort of properties. Because this forum is a year old people are still searching like I did because the information is useful. People don't stop reading because something is a year old. Do you stop reading books because they are over a year old!!!0
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Hi, my daughter is about to buy a new coach house (freehold) with 2 garages (leasehold) underneath but none of them are hers, she has been told that she has to insure the whole building to cover the garages, this does seem a bit unfair, just wondering if you have any advise on this & have you had any issues.0
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I would be more concerned with what firewall is in the garage ceiling under your floor.
I would expect at very least a 1hr rated correctly installed barrier and fire detection system in the garages to alert occupants in the coach house.I do Contracts, all day every day.0
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