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Ex Council
MattEm
Posts: 1 Newbie
We are trying to buy a flat we have been renting, although it is now privately owned now, it used to be a council flat and they are still the leaseholders on the land (122 years left). We have had problems getting a mortgage on it although it is in a good part of town and a lovely flat. Any ideas? Also it would be in our medium term plans to rent it out, any thoughts or advice is welcome, thanks.
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Comments
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Is it high-rise? If so what floor and how many floors in total?
What construction?
Has a surveyor been out to value it? Comments?
What is the purchase price and your mortgage requirement?
The fact it's leasehold and the Council is the freeholder isn't normally a problem.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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