We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
PLEASE HELP - Developer now informed us our house is leasehold rather than freehold
mikeyg1
Posts: 7 Forumite
Hi,
We are in the process of purchasing a property from Linden Homes, it is a two bedroom coachhouse attached to an apartment block. Below us is a bin store (for ourselves and the apartment block) and two car ports (one of which is ours, the other will belong to one of the apartments). Nothing above us.
When we reserved the plot, we were told ours would be freehold and that the apartments would be leasehold. So we applied for a mortgage obviously telling them it was freehold and were approved, they completed their surrey and gave an offer which states freehold. When it came to exchanging however, our solicitors sent over a contract that stated it would be a leasehold, upon serval phone calls to linden homes they have now told us it is in fact a leasehold.
When we reserved the property we were given a reservation form that states freehold, as we were assured it would be. I now feel we are now receiving something valued less than we had previously agreed. Not mention the rules than will come with leasehold. We have a dog and are looking to put in wooden floor.
I have asked them if it could in fact be changed to a freehold, however they seem reluctant due to complications and difficulties. I just wondered if anyone had advise or its really that bigger deal to change??
Any help would be grateful.
Mike
We are in the process of purchasing a property from Linden Homes, it is a two bedroom coachhouse attached to an apartment block. Below us is a bin store (for ourselves and the apartment block) and two car ports (one of which is ours, the other will belong to one of the apartments). Nothing above us.
When we reserved the plot, we were told ours would be freehold and that the apartments would be leasehold. So we applied for a mortgage obviously telling them it was freehold and were approved, they completed their surrey and gave an offer which states freehold. When it came to exchanging however, our solicitors sent over a contract that stated it would be a leasehold, upon serval phone calls to linden homes they have now told us it is in fact a leasehold.
When we reserved the property we were given a reservation form that states freehold, as we were assured it would be. I now feel we are now receiving something valued less than we had previously agreed. Not mention the rules than will come with leasehold. We have a dog and are looking to put in wooden floor.
I have asked them if it could in fact be changed to a freehold, however they seem reluctant due to complications and difficulties. I just wondered if anyone had advise or its really that bigger deal to change??
Any help would be grateful.
Mike
0
Comments
-
do you have anything in writing it was supposed to be freehold by the developer?"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
another thread running
https://forums.moneysavingexpert.com/discussion/52657180 -
No mortgage issue here, so continue on HBR&S alone.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards