Freehold on house has 12 years left - looking to buy, advice needed

Richard_Webster

They bought it 40 years ago when there was 12 + 40 years left on the lease = 52 years.

Even then that would have been very short and questionably mortgageable so I am surprised that even then their solicitors advised them to buy it at all.

daws0n_2

I thought the same Richard... I asked them about it yesterday and they said they knew nothing about the implications of the (lack of) freehold, and were not advised about it. They were care free and in their early twenties when they "bought" the house, and far as I know the deeds have been securely stored since.

As it's only been costing them £2 a year since they've thought nothing of it and it's only recently been brought to my attention. I was always told growing up that we owned the house outright. Judging by the tone of the land owner's questions (enquiring about the new windows, age of heating/electric, looking under the stairs etc...) I think he wants it for himself. He has given an asking price before even having the land surveyed properly, my gut feeling is that he is trying to prevent sale by asking a price which is barely within our reach.