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House has fallen through due to flying freehold, who is to 'blame'
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Yes, we tried that argument about how it can have a flying freehold and a leasehold with the mortgage company. It didn't wash sadly.
There is a 999 year lease, we have seen it. But the solicitor said it does also have flying freehold.
So I guess the freeholder owns a flying freehold. And the freeholder has created a 999 Lease (which you want to buy).
So all the potential problems of a flying freehold would apply, for example...The house we were buying has a small bedroom that'flies' over the property below.
So if the property below that bedroom starts falling down, your freeholder may not be able to do anything about it (because it's owned by a different freeholder) - so your bedroom falls down.0 -
If you are dead set on this property, could you raise finance on your residential home?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Yes, we have looked into that too. We are currently selling our house and buying something near the holiday cottage so it wouldn't work.
I think we alphabetic look for something else.0
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