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leases
christopherzzr
Posts: 3 Newbie
i own my terraced house but continue to pay ground rent,the lease holder as asked would i like to buy the lease for £500 should i or not
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Comments
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Yes... I am having a problem with the sale of my house despite there being over 90 years left on the lease... wish i could buy mine for £500!!0
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Hi OP - How much is your ground rent and what does it cover? (ie. is it purely the lease). Do you have to get your lease holders permission to do things? You need to decide if it is worth buying.
Although you've been offered to buy it for £500 I'm sure they'd expect you to cover all legal costs.0 -
Bite his hand off -seriously.
Bear in mind that you are "not buying the lease"in the sense it should be used, you already own the lease, you are buying the freehold and therefore ask your solicitors to arrange to terminate the lease at the same time.
Bear in mind that this will require re financing so might have to be delayed to avoid penalties.
if the lease requires you pay toward for common areas ( common with new houses) then it may be best it leave the lease in place for the sake of ease- you just sell the freehold and leasehold together when you move.Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
Actively hunting down the person who invented the imaginary tenure, "share freehold"; if you can show me one I will produce my daughter's unicorn0 -
hi thanks got it wrong its the freehold they are offering and they say they wll do the legal work, but we have to pay our solictors fees, the offer is £550 for freeholdHi OP - How much is your ground rent and what does it cover? (ie. is it purely the lease). Do you have to get your lease holders permission to do things? You need to decide if it is worth buying.
Although you've been offered to buy it for £500 I'm sure they'd expect you to cover all legal costs.0
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