Freeholder Bankrupt?

ForumMouse

Hello, two years ago I bought a house on leasehold from a small company that built it and owned the freehold.

Shortly after we moved in they blocked all contact with us (there were a lot of unfinished jobs we pestered them about) and a neighbour has recently informed me that the company has gone bankrupt.

I was wondering how this affects my leasehold, how it might affect me selling my house on in the future and if there's a way to check who, if anyone, owns the land now.

xylophone

the company has gone bankrupt.

https://www.gov.uk/government/publications/guide-to-bankruptcy/guide-to-bankruptcy

https://www.gov.uk/find-out-if-a-company-is-in-financial-trouble

G_M

If the freeholder has gone bankrupt you need to find out who has taken over the freehold. The Official Receiver.

You don't have to pay gound rent unless it is demanded by someone entitled to it, but eventually somone will, and will want back payments (up to 7 years I believe).

Same with Service charges, though if services are not being provided and maintenance not undertaken, I'd challange any service charge demands you get in the future.

If you have urgent repairs, either make strenuous efforts to find the new freeholder, and/or get together with the other leaseholders and get them done yourself.

Selling will be an issue as any buyer will want to contact the freeholder, so again, finding out who that now is should be on your To Do list.

eddddy

If the freeholder is bankrupt, is somebody insuring the building?

Even if the freeholder has only just gone bankrupt, people in financial difficulties can 'forget' to pay insurance premiums and/or cancel policies to get refunds.

If the building burns to the ground with no insurance, I suspect you and the other leaseholders could end up bankrupt as well.