can I own both a leasehold and the freehold

mattp1978

I am just about to buy a leasehold flat. It is in a building with one other flat. The owner would also like to sell the freehold however I have been advised by my mortgage broker that I cannot own both the leasehold and the freehold in my name. Is this the case? Many Thanks for you advice

princeofpounds

No, that is not true.

However it's possible that you or your broker may have confused the message. It's possible that your mortgage lender will not lend on both for some reason, for example, perhaps lack of sufficient deposit.

mart.vader

princeofpounds wrote: »

No, that is not true.

However it's possible that you or your broker may have confused the message. It's possible that your mortgage lender will not lend on both for some reason, for example, perhaps lack of sufficient deposit.

Hi PoP,

Are you sure ? Is this England and Wales Law ?

I think I may be a freeholder and a leaseholder - I was a leaseholder, but bought the freehold a few years ago. It was all done via the LVT, by solicitors and registered at the Land Registry.

Edit: Reread the OP. Are you saying that its not possible to be a LH'er and a FH'er, or are you saying that this is OK ?

tim123456789

It's perfectly possible to own both the freehold title and the leasehold to a flat, as long as you understand that they are separate things that should be keep separate.

tim

mattp1978

thanks tim123456789

propertyman

mart.vader wrote: »

Hi PoP,

Are you sure ? Is this England and Wales Law ?

I think I may be a freeholder and a leaseholder - I was a leaseholder, but bought the freehold a few years ago. It was all done via the LVT, by solicitors and registered at the Land Registry.

Contrary to the incorrect posts no you cannot, as you cannot grant to yourself a lease of what is already yours, even if part of the freehold property is a lease on the flat.

The reason why this does however happen is that the purchase of a freehold is often overlooked by the land registry historically and when the to intersts are bought at different times.

Very often a solicitor will on buying the freehold, bring the lease to an end, or HMLR spotting the two ownerships refuse to register it.

Fraise

A leaseholder can buy the freehold. I did on an old house I had. After so many years of living in a leasehold you can buy it by law I thought?

If you have a shared freehold you would have a lease too.

propertyman

Fraise wrote: »

A leaseholder can buy the freehold. I did on an old house I had. After so many years of living in a leasehold you can buy it by law I thought?

If you have a shared freehold you would have a lease too.

He is asking about owning both ie being the freeholder of the building and a leaseholder of the flat.

tim123456789

propertyman wrote: »

Contrary to the incorrect posts no you cannot, as you cannot grant to yourself a lease of whqt is already yours, even if it is part of the freehold property is a lease on the flat.
.

I don't understand this answer

people offering (and presumably buying) the leasehold of one half of a converted house and the freehold of the whole property is quite common

so from you post this is impossible, but I see it all the time

tim

propertyman

tim123456789 wrote: »

I don't understand this answer

people offering (and presumably buying) the leasehold of one half of a converted house and the freehold of the whole property is quite common

so from you post this is impossible, but I see it all the time

tim

Thank you tidied it up. I didnt say it was impossible.....

The freehold is usually owned jointly with others and where, as explained in my post, if it is as you say, it results from historical inconsitancies.

Its common to see that when the two titles are bought the lease vanishes through their solicitors actions or they have problems registering it.

mart.vader

propertyman wrote: »

Thank you tidied it up. I didnt say it was impossible.....

The freehold is usually owned jointly with others and where, as explained in my post, if it is as you say, it results from historical inconsitancies.

Its common to see that when the two titles are bought the lease vanishes through their solicitors actions or they have problems registering it.

I was advised by the solicitors that handled it, that;

1) I had bought the freehold, - I certainly paid for it.
and
2) The lease would continue to run, but would have no effect, and I could grant myself a new lease, for either of the flats I own, at any time for a minimal premium.

OK, What do I need to do ?