BBC article on newbuild houses that are leasehold

pinkteapot

http://www.bbc.co.uk/news/business-38827661

Interesting read. I didn't know that builders were increasingly selling newbuild houses (not flats) as leasehold rather than freehold, and then selling the leases on to investment firms.

In both cases featured (same estate, different builders), the new homeowners had the chance to buy the freehold from the developer for a relatively small amount, but they declined at that point as they didn't have the money, and now their leases have been bought out they're being asked for substantially more money to buy out the freehold.

Worth being aware of if you're looking at a leasehold newbuild. Personally I would want to buy the freehold so would ask for the cost when looking around, and just treat that as part of the purchase price, and go ahead if I was happy with the total.

moneyistooshorttomention

Agreed.

.....and check what the small print said as to whether there were any conditions I had to comply with to be able to buy my own freehold for my own house straight away.

I'd be scrutinising very carefully in case they'd inserted some words somewhere about not being allowed to buy my own freehold for a certain amount of time but were planning to nip in and sell it to an investor before I could buy it myself (eg whether they said in writing I couldnt buy it for 24 months for instance - as I'd anticipate that would be something they would only apply to me, but funnily enough an investor was allowed to buy my freehold after 18 months) iyswim.