We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
buying freehold for my flat
lee10c
Posts: 1 Newbie
I have owned my leasehold conversion flat for 3 years and have both myself and my neighbour downstairs been asked if we would like to purchase the freehold.
My initial thought was 'yes, fantastic, as i assume this would add value to the property and make the property more desirable.
But after slightly more research on the internet i found articles saying that lenders will not lend on a freehold flat and that freehold flats are harder to sell.
This suprised me as i assumed the opposite.
I just wondered if you could shed some light.
Thankyou
Lee
My initial thought was 'yes, fantastic, as i assume this would add value to the property and make the property more desirable.
But after slightly more research on the internet i found articles saying that lenders will not lend on a freehold flat and that freehold flats are harder to sell.
This suprised me as i assumed the opposite.
I just wondered if you could shed some light.
Thankyou
Lee
0
Comments
-
Welcome to MSE!
There is a difference between a freehold flat (difficult to mortgage) and a flat with a share in the freehold (technically still a leasehold flat). Everything leasehold here: http://www.lease-advice.org/publications Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0 -
This has been answered in more detail at http://www.houseweb.com/forum/showthread.php?p=3423#post3423 which includes some sensible posts form Simon Seaton of Fridays.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards