Leasehold Houses

Sneckie07

Hi Y'all,

We're seriously considering buying a house but our reservation is it's a leasehold. We're used to leaseholds in Flats but are worried about the re-sale potential of a leasehold house.

Its a Grade 2 listed mansion conversion....mostly flats (12) but with 6 townhouses.......it's set in 4 acres of private park land. There are also offices at the front of the building.

The maintenance charge is £200 per month, which covers all the usual leasehold scenarios, it also includes a full time gardener and 24 hour security.

The house is perfect for our needs and is significantly nicer than anything else we've seen in the last year. We've increased our search area by 15 miles but keep returning to this property.

Would a leasehold house put you off?

Thanks in advance.

P.S Great forum, guys.

EDIT: The lease is for 999 years.

david29dpo

The lease would be the least of the problems. £2200 a year maintenance and likely to rise. Regarding the lease, depends how long it is, 99 or 999 years?

poppysarah

That's huge service charge. Is it paying for a lift anywhere?

david29dpo

Its not the ones near bridgnorth is it?

Sneckie07

Aye, tis not cheap!

The lease is 999 years and the development is in Uxbridge. There's no lift.

Our flat's maintenance is currently £140 a month. When we first moved here ( 6 years ago) it was £80....however constantly broken electronic gates and a complete building re-paint has seen the end to those prices.

david29dpo

No problem with the lease then. Think you have answered your own question about the maintenance!

charliee_3

we are currently buying a leashold house, its pretty unusual i know.. we have been told we can buy the lease for it for £1200 so we have instructed the solicitor to do so as we just dont like the idea of buying a house (frst time) but still not actually owning it...
i can see WHY your house is leasehold as it is part of an estate and is on shared land which has to be maintained as part of the freehold, so they probably wouldnt be able to sell it any other way... in which case i dont see that it would cause poblems on resale, except for the expensive service charge...

bob79

I'm currently buying a freehold house that used to be leasehold. One of the previous owners bought the freehold a couple of years ago. The title deeds mention the obligation to proportionately pay for the maintaining of the footway at the back of the house and for the forecourt of the garage block (but no payments have had to be made in years). It also mentions granting and having access to cables and pipes serving adjoining properties. But no ground rent has to be paid anymore.

sunnysea83

Unless you really really really have to never buy a leasehold property, flat or house. Managing agents can change left right and centre, different agents charge different amounts, your lease will state what you can and cant do to your house, some places you have to get permission to change the kitchen and bathroom, double glazing, bowler and some managing agantscharge 500-1000 for consent for this. You will probably also find that you have to pay x percentage of all major works so if something goes wrong in the block of flats you will be contributing to it!

I would never recommend anyone buy a leasehold house

Your service charge is £200 a month and probably would put people of buying in the future.