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Peppercorn 999yrs
Comments
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When you rent out the flat do you not have to give the tenant the lease hold to the flat ?
No - you give them an AST (assured shorthold tenancy)My main concern is if I were to sell down the line and someone wants to borrow to buy it, a lease hold flat would be easier to get a mortgage on than a freehold flat, so I don't want its value to be effected.
If you want to sell the flat as leasehold - you would create a lease for the flat and sell it.0 -
So really I'm better keeping it freehold and letting it out and when I want to sell it get a lease created for it.0
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no, you are better off learning to crawl before you try to enter the running at the OlympicsSo really I'm better keeping it freehold and letting it out and when I want to sell it get a lease created for it.- learn what a lease is
- learn how that differs to a tenancy
- learn what it means to own a freehold and how that differs to a lease
- decide what you want to do in terms of either becoming a landlord with a tenant or a freeholder who has sold part of their building to a leaseholder
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Depends how you want to sell it, if together with the shop, whole kit and caboodle then it doesn't matter sell the whole lot freehold, if you want to retain the shop then keep the freehold to each and sell a lease to the flat, same if you want to sell just the shop.So really I'm better keeping it freehold and letting it out and when I want to sell it get a lease created for it.
You could also keep the freehold if you wanted to sell the two particularly if to different buyers.0 -
Thanks for the advice really appreciated.0
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