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Buying a house with a flying freehold

JennyP
JennyP Posts: 1,067 Forumite
Part of the Furniture 500 Posts Name Dropper Combo Breaker
in House buying, renting & selling
The house I am trying to buy is an underdwelling - fairly typical in this part of Yorkshire - and it has a flying freehold.
I am not particularly worried about this but the mortgage company is asking questions and that makes me wonder if the property will one day be difficult to sell i.e. will someone else be unable to get a mortgage on it?
Trouble is I love the property!
Any thoughts?
«134

Comments

  • lincroft1710
    lincroft1710 Posts: 18,952 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    If you're in somewhere like Holmfirth or Hebden Bridge these are extremely commonplace and are a feature of the area. Local based lenders (such as Halifax) must have been lending on these house types for over 150 years, so they should know all about them.

    I think the problem lies with your lender, rather than the house.
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • JennyP
    JennyP Posts: 1,067 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    You must be psychic! I am buying in Hebden Bridge! Very limited as to lenders because of my job contract :(
  • Little_Vics
    Little_Vics Posts: 1,516 Forumite
    we're local (wink wink), and although we didn't end up buying a house with a flying freehold, the Halifax were great with our mortgage when we were considering it.

    HB is expensive though - have you looked slightly out of town towards Tod or Mytholm?
  • lincroft1710
    lincroft1710 Posts: 18,952 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I visited HB for a few days last year as I have a relative living there, it was a bit of a family reunion.

    I think if you showed your lender photos of HB or local property pages ads hopefully they'd realise that these house types are the norm, have been here for well over 100 years and because of the millstone construction will still be here in another 100 years.

    They'll lend on modern "thrown up" apartments, so why do they baulk at something of proven longevity.
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • JennyP
    JennyP Posts: 1,067 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    They've seen photos! Fingers crossed.
    I have considered Tod and Mytholm but I'm single and in my forties and what I want most is to be near my friends in a place that feels like it's got a bit of community. It has to be Hebden. There's nowhere else like it!
    Thank you for the reassurance though - I think I'm doing the right thing!
  • lincroft1710
    lincroft1710 Posts: 18,952 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    JennyP wrote: »
    It has to be Hebden. There's nowhere else like it!

    Can't argue with that!
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • oxfordmark
    oxfordmark Posts: 458 Forumite
    I am in the process of buying a flying free hold house. The neighbours bedroom over hangs a shared side access. Is that the flying freehold section?
    Oxfordmark
    Home owner from Friday 26th July 2013!
  • JennyP
    JennyP Posts: 1,067 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Yes, I think it is. I've been asked to tell my mortgage people the percentage floor area of the flying freehold!
  • oxfordmark
    oxfordmark Posts: 458 Forumite
    I had seen flying free hold on a document from my EA but took no notice until I had seen this thread. It seems nothing to worry about though.
    Oxfordmark
    Home owner from Friday 26th July 2013!
  • JennyP
    JennyP Posts: 1,067 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    It can be. Some lenders e.g. mine are picky about it!
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