Buying a Coach House with a leasehold

jaffy1229

I made an offer on a coach house and was told there was a service charge of £50 per year.

I have done some research and found that effectively I have a landlord which I don't really like! I also found that you could buy the leasehold to make it freehold. But how easy is it to buy the leasehold? And how much could it be?

Can the freeholder refuse to sell?

Any info appreciated. Thanks

Richard_Webster

If you buy the freehold you will also get the freehold of the garages underneath and the hassle of being the landlord for the lessees ofd the garages. Do you want that?

jaffy1229

I can't answer that as I have never been in that situation, or know what it involves. If anyone can tell me the disadvantages, I would be able to make a better judgement. Thanks

SmlSave

Is the coachhouse itself leasehold or just the garage?

jaffy1229

SmlSave wrote: »

Is the coachhouse itself leasehold or just the garage?

I need to double check this because the agent just told me there was a lease, but not specific. I didn't even realise the implications, so I am doing some more research

carefullycautious

I have also been informed by a few people who live in them that they are extremely cold in winter and difficult to heat.

G_M

What is beneath the coach house? An archway? One or more garages?

The freeholder owns the land on which they all sit, and has certain responsibilities (as defined by the various leases above).

Ypu are buying the lease to (I assume) the property on the 1st floor.

If you also buy the freehold, you will be responsible for whatever is on the ground floor too:

* collecting the ground rent/service charges (and chasing non-payment etc)
* insuring the whole property (probobly) and collecting the premiums from the various leaseholders
* managing maintenance and repairs of the building as a whole
and so forth.

hazyjo

A lot of new-ish FH houses have LH garages - I had 2 with my last (FH) house.

You might wish to be aware of the fact you'll more than likely have to pay for a LH/Management pack if you ever sell the house on. A few hundred quid probably. Not enough to make you walk, but one to be aware of.

If it's a LH house, some will be put off buying if/when you sell. (I would.)

Jx

Richard_Webster

If there are garages/archway underneath then don't think you should buy the freehold of just the flat you are occupying and not the areas below. Doing that is a wonderful way of throwing money on a fire as it will devalue the flat by something around 30% by making it unmortgageable as a pure freehold flat!

jaffy1229

Thanks everyone for your contributions. My main concern, is I would like to have an extension, but am worried I will not be able to do it as it is not freehold, and it seems to me the freeholder has a final say if I can have an extension or not.

Will I be able to find out if this is a problem before purchasing the coach house? Or is this something the freeholder can accept or decline at anytime?

The Coach house does not have an archway, just 3 garages, one belonging to the flat.

Thanks again

rtho782

Don't buy it. Leaseholds are a mugs game.

Almost all flats and coachhouses in England and Wales are leasehold.