Buying out the ground rent (freehold?)

saverbuyer

Possom wrote: »

If someone bought out the ground rent (not the superior freehold) and they are later asked on an official form if their home if freehold or leasehold, then I wonder if they would state leasehold (since no ground rent) or freehold?

What kind of "official form"?

warmhands.coldheart

saverbuyer wrote: »

What kind of "official form"?

I'm assuming they mean when selling the house....

Solicitor reckoned in Belfast at any rate it wouldn't make a blind bit of difference to the value of the house if you owned the freehold or not..... after all it's just one little patch of the street so what's the benefit really!!

saverbuyer

warmhands.coldheart wrote: »

I'm assuming they mean when selling the house....

Solicitor reckoned in Belfast at any rate it wouldn't make a blind bit of difference to the value of the house if you owned the freehold or not..... after all it's just one little patch of the street so what's the benefit really!!

A lot of the leasehold here will be peppercorn rent anyway. I agree with you, if it's freehold or leasehold with bought out GR, no one will give a toss, you couldn't put a fag paper between them for the general populace's POV.

Possom

saverbuyer wrote: »

What kind of "official form"?

Nothing specific. Potentially any type of form where this question is asked.

I'm sure I've seen that question asked on a form(s) before i.e. is your home leasehold or freehold.

RikM

saverbuyer wrote: »

A lot of the leasehold here will be peppercorn rent anyway. I agree with you, if it's freehold or leasehold with bought out GR, no one will give a toss, you couldn't put a fag paper between them for the general populace's POV.

Depends where you're from. It gave me the willies when I came here, until I discovered how common it was over here. It just sounded wrong; a leasehold house.

warmhands.coldheart

RikM wrote: »

Depends where you're from. It gave me the willies when I came here, until I discovered how common it was over here. It just sounded wrong; a leasehold house.

From my experience, for what it's worth, it's a city thing (possibly even just a "Belfast" thing) here in Northern Ireland but it is not that uncommon in a lot of GB towns and cities I believe.......