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buying the freehold of the building my flat is in
aah
Posts: 520 Forumite
Hi there
My work flat is leasehold; I bought it in August. It is a ground floor flat, one of two flats in a coverted terrace. Both flats are leasehold.
The lease is apparently defective and I have had to insure my lender agains this. My solicitor said that at some stage in the future I could consider buying the freehold for the building and issuing fresh leases for both flate.
Does anyone know how I could go about this? My current fixed rate nortgage has 15months to go and I'd like to be in a position to included cost of freehold in the new deal I do with whichever lender.
Please let me say that I know there has to be a lease with each flat otherwise they are un-mortgageable (does this word even exist...) but I am considering owning the freehold of the building which contains both leasehold flats..
Your advice would be greatly appreciated, I am clueless as to how to even start, or what to offer the current landlords (who just collect the - very small - ground rent)....
My work flat is leasehold; I bought it in August. It is a ground floor flat, one of two flats in a coverted terrace. Both flats are leasehold.
The lease is apparently defective and I have had to insure my lender agains this. My solicitor said that at some stage in the future I could consider buying the freehold for the building and issuing fresh leases for both flate.
Does anyone know how I could go about this? My current fixed rate nortgage has 15months to go and I'd like to be in a position to included cost of freehold in the new deal I do with whichever lender.
Please let me say that I know there has to be a lease with each flat otherwise they are un-mortgageable (does this word even exist...) but I am considering owning the freehold of the building which contains both leasehold flats..
Your advice would be greatly appreciated, I am clueless as to how to even start, or what to offer the current landlords (who just collect the - very small - ground rent)....
0
Comments
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bump
If you don't know perhaps you know where I could find some help?
Many thanks, Anne0 -
These are the people for any queries regarding leasehold property. It's a government funded agency & offers impartial help & advice. http://www.lease-advice.org/newintro.htmThe bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0
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