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Scottish Tenure Confusion
ethranes
Posts: 69 Forumite
Hi, I've had an offer accepted on a Flat in Edinburgh. The home owners report states the Tenure as "Absolute Ownership" I said this to my mortgage broker and they said that it was probarbly a Leasehold and wanted to know how long the lease was. On the homereport as I say absolute ownership is ticked, and both the leasehold, and the unexpired years fields are empty.
Who's more confused here, me or the broker?
Who's more confused here, me or the broker?
Debenhams CLEAR||AMEX CLEAR||Barclay Card CLEAR||Halifax CLEAR
Council Tax 15/16/17 CLEAR
Council Tax 15/16/17 CLEAR
Updated: 30/6/2017
0
Comments
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Highly unlikely to be leasehold. Ask your solicitor to clarify for you. In Scotland we don't often come across leasehold properties. In my experience (having owned several such flats in Edinburgh) usually tenement flats are owned outright, with shared ownership of the common parts such as roof, rainwater goods, stair etc
The Deeds will set out who owns what and responsibilities for upkeep. Again, your solicitor should be able to advise you. Best of luck.0 -
'Leasehold' is a very rare thing in Scotland. Are you sure your solicitor is competent to handle a Scottish purchase?2024 wins: *must start comping again!*0
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The broker in this case is london and county. They're fine with everything else and the deals they've found for me are good. I think in this case from your guys comments, it's just that the advisor that I was speaking with wasn't well versed on Scottish rules.Debenhams CLEAR||AMEX CLEAR||Barclay Card CLEAR||Halifax CLEAR
Council Tax 15/16/17 CLEAR
Updated: 30/6/2017
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Your broker seems very unfamiliar with Scottish properties.Who's more confused here, me or the broker?
There are hardly any leasehold residential properties in Scotland, the few which exist are in the process of being converted into ownership by statute, and I'm pretty sure none of them have ever included flats in Edinburgh. Absolute ownership is correct.0 -
I have come across this with call centres in England who want to know the type of tenure and there is not an appropriate box for them to tick.
I suspect that "freehold" would be a more appropriate description than leasehold. but not a term that is used routinely in Scotland. Again - check with your solicitor. I would be amazed is there is any lease!0 -
Time to find a better Mortgage Broker0
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