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Flying freehold
kel83
Posts: 12 Forumite
Hi all from a long time lurker. I was directed here from the buying, renting and selling forum, so apologies for the cross-post.
My partner and I are looking at purchasing a house with a flying freehold and it sounds a bit unusual to me so I'm after some opinions/advice.
The house is Edwardian. It was split into two semis in the 1960s and the current vendor has told the estate agent that she has all the deeds, agreements etc in place from the original split. Since the house was split, there have been four owners including next door, who moved in in April this year, and everything is fine.
The situation is:
"Our" bathroom is over their kitchen.
The cellar under both properties belongs to next door.
They also have an attic conversion that is partly on top of "our" first floor.
I have read that some mortgage lenders will lend when a flying freehold is less than a certain percentage, but if "our" house is fully on top of their cellar, I'm concerned that the flying freehold percentage may be too high.
We are obviously going to talk to our mortgage people and solicitors, but I'd be grateful for any opinions or experiences from the community.
My partner and I are looking at purchasing a house with a flying freehold and it sounds a bit unusual to me so I'm after some opinions/advice.
The house is Edwardian. It was split into two semis in the 1960s and the current vendor has told the estate agent that she has all the deeds, agreements etc in place from the original split. Since the house was split, there have been four owners including next door, who moved in in April this year, and everything is fine.
The situation is:
"Our" bathroom is over their kitchen.
The cellar under both properties belongs to next door.
They also have an attic conversion that is partly on top of "our" first floor.
I have read that some mortgage lenders will lend when a flying freehold is less than a certain percentage, but if "our" house is fully on top of their cellar, I'm concerned that the flying freehold percentage may be too high.
We are obviously going to talk to our mortgage people and solicitors, but I'd be grateful for any opinions or experiences from the community.
0
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