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.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. 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!
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
-
Sorry this is happening.
The obvious first thing would be "Do NOT Exchange Contracts unless and until this is all sorted out one way or another".0 -
How long is the lease?"You were only supposed to blow the bl**dy doors off!!"0
-
lease is 150 years0
-
Don't exchange and withdraw your offer.
Forget the dog, the wooden floor or anything else, you got the mortgage offer on the strength of it being a freehold. If you buy and the lender finds out it's only a leasehold, you'd be in deep !!!!!!.0 -
I'm not planning to exchange!! I want to know if you think it's likely they can change it to freehold or if they'll give me the leasehold! Obviously if this can't be done I would reapply for the mortgage to get the correct offer!!0
-
Are you not better off having a leasehold coachhouse rather than a freehold as regards mortgages??0
-
I expect the freehold, if possible to acquire, would cost more.
I'd tell them to shove it to be honest. I know it's hard when you're this far but it's a big difference between the two and they've really messed you about.0 -
Could I not say that they should give me the leasehold as it's what we had agreed already! Would I have any legal leg to stand on, as we had previously agreed on this?0
-
Could I not say that they should give me the leasehold as it's what we had agreed already! Would I have any legal leg to stand on, as we had previously agreed on this?
If you don't have it in writing, no, you don't.
Even if you do have it in writing, is that house really so special?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