Leasehold / freehold house

whitelightning

Hi,

I've seen a detached house which I can't determine if it's leasehold or freehold. On the land registry site I've found 2 entries for the address; 1 showing Tenure: Leasehold Price Paid/Value Stated Data: Yes, another showing Tenure: Freehold Price Paid/Value Stated Data: No.

How do I determine which report/entry to buy and more importantly how do I find out if the property is leasehold or freehold?

I understand the concept of leasehold for an apartment but how does it work for a house? As far as I'm aware there's no service charge or ground rent, so who owns the land?

Finally if the property is leasehold, what should I look out for other than a long lease, and are they any disadvantages of a leasehold house?

Many thanks.
W

Guest101

Ask the estate agent, have your solicitor confirm. Chances are its freehold, however if the freeholder has decided to lease it out, then they continue to own the land.

welshwizard1927

We're in the process of buying a leasehold. The land registry searches appeared the same as you've described - one freehold (which is the freeholders registration), and a leaseholder, which relates to the land. From that, I'd guess this property is also a leasehold, but its worth checking with the estate agents.

Key points to be aware of are the amount of ground rent, whether there are any restrictions in place on use or developing the land (eg a requirement to give notice when building an extension/even a complete prohibition on building an extension).

Also look at term of lease - I think 83 years is the critical number. Anything longer and it should be less of an issue.

Finally, it may also be worth finding out if the seller is willing to buy the freehold as part of your purchase. Sometimes this only costs a few hundred pounds, and may benefit you as the homeowner doesn't obtain the right to buy the freehold until 2 years after occupation.

Land_Registry

The land and buildings will be owned by the freehold tenure and the register will refer to the basic lease details i.e. what is leased (whole or part), date etc etc. It will not state who owns the leasehold tenure/title.

The leasehold register will repeat the basic details of the lease and the extent leased (whole or part) and include details of the original parties to the lease, the term etc. It will not state who owns the freehold tenure/title.

The leasehold concept is the same for an apartment/house/field or anything else. The freeholder leases part/whole of their tenure/title for a term of years. And if the property is a single detached house you could find that the freehold/leasehold tenure/titles are in fact in the same ownership.

As a result in most situations you would be checking both tenures as each affects the other but if it is For Sale then the particulars should advise whether it is the Freehold or the Leasehold or both which are being sold. If you proceed with the purchase you or your solicitor/conveyancer would be looking at both tenures/titles anyway.