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    • PhilNewcastle
    • By PhilNewcastle 14th Mar 17, 8:38 PM
    • 1Posts
    • 0Thanks
    FTB Freehold advice
    • #1
    • 14th Mar 17, 8:38 PM
    FTB Freehold advice 14th Mar 17 at 8:38 PM
    Im currently in the position of purchasing a home, I have full the application done with mortgage company and offered however the house we are buying is a lease hold, the vendor is buying the land and selling as a freehold as there is not enough time left on the lease. I have been waiting over 2 months since putting an offer in on the house and the vendor side of the land buying has not yet been completed. The mortgage we have is only valid for 70 days so haven't got forever to wait. Question is - Can we do all our ground checks etc before the house is a free hold and what else needs to be done from my side. I'm yet to get a solicitor as I don't know how long we are going to be waiting.. But i want to know what i can get done now? and what are steps before completion? Ive never done this before and am sightly confused
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    • Whoknowskt89
    • By Whoknowskt89 14th Mar 17, 9:17 PM
    • 257 Posts
    • 608 Thanks
    • #2
    • 14th Mar 17, 9:17 PM
    • #2
    • 14th Mar 17, 9:17 PM
    Can't help with most of that but you should be able to get the offer extended if required by contacting the lender so you wouldn't have just 70 days to sort.
    Mortgage £67 615 Debt free date 30/06/17 (excluding mortgage...)
    Emergency fund £1155/£1000 Moving fund £7000
    Treats £875 Doing up flat fund £1050
    Christmas fund £80/£160
    Savings aim (including EF fund) Jan 2018 £11,150
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