Just found out house we're buying is leasehold. Help!

Red-Squirrel_2

Prinzilla wrote: »

The issue of the money is a moot point at the moment, as I've said before we'd rather have the house. Doesn't mean I can't be annoyed at the situation and the vendor for providing incorrect information or I'd be wrong to try and get my money back if needed. It's simple enough to submit a claim and regardless of your thoughts on success I'd still try.

Its completely fair and understandable that you'd be annoyed, I'm just trying to stop you wasting more time and money on a pointless venture tbh, up to you if you're happy to do that.

loubel

Prinzilla wrote: »

Da_rule We!!!8217;re paying the asking price for 100% of the property. It was advertised as 50% shared ownership but we enquired about buying 100% and they agreed.

All shared ownership properties are leasehold. If the seller is staircasing to 100% on completion and it is a house then the council should be transferring the freehold at that point. Your solicitor will be able to confirm this.

muz3562

Shared driveways might be all good and well now with the current neighbour . But is the neighbouring house owned or is it a HA tenant who could change overnight ?



As for the freehold being owned by the housing association . The only way to find out the chances of them selling it are to enquire . This should really be something that your solicitor suggests anyway . This will increase conveyancing costs but negotiate that into the price .

Prinzilla

loubel wrote: »

All shared ownership properties are leasehold. If the seller is staircasing to 100% on completion and it is a house then the council should be transferring the freehold at that point. Your solicitor will be able to confirm this.

My mortgage adviser mentioned this, I've just asked the solicitor to confirm. Fingers crossed!

Prinzilla

muz3562 wrote: »

Shared driveways might be all good and well now with the current neighbour . But is the neighbouring house owned or is it a HA tenant who could change overnight ?



As for the freehold being owned by the housing association . The only way to find out the chances of them selling it are to enquire . This should really be something that your solicitor suggests anyway . This will increase conveyancing costs but negotiate that into the price .

Both neighbouring houses are owned. I've asked the solicitor if the HA will be transferring the freehold when we complete as it may be a leasehold just due to the property being shared ownership at the moment.

shortcrust

BBH123 wrote: »

Never buy a Leasehold house however if its a flat Leasehold is more common.


It sounds like the lady selling has got her terminology muddled up and tbh sounds rather complicated.

Well that rules out most of the houses near me! There are miles and miles of leasehold terraces that people have bought and lived in for generations without obvious ill effects.

victoriavictorious

hazyjo wrote: »

Also, if they have cars in the way, they may think it's okay to drive over your half to exit, or they may 'tinker' with their cars on a weekend, or have cars that leave oil stains, be unsightly, or whatever. There may be weeds that come up which they may ignore whereas you might want it weed free, or jetwashed and the other half may be filthy. What someone does on their own drive is up to them. When it's shared, you have to put up with how they treat their half.


I'll prob think of more lol. It's best to go in with your eyes open - I know it's hard when it's all new. Every house you ever buy will be a learning curve for the future!

I can think of one! A few weeks ago, you may recall someone posting on here about their neighbour erecting a fence right down the middle of their shared driveway...?? :eek:

Red-Squirrel_2

victoriavictorious wrote: »

I can think of one! A few weeks ago, you may recall someone posting on here about their neighbour erecting a fence right down the middle of their shared driveway...?? :eek:

I was just thinking of that thread.

Doing a search for 'shared drive' or 'shared access' on here would certainly be an eye opener to some of the potential problems

hazyjo

victoriavictorious wrote: »

I can think of one! A few weeks ago, you may recall someone posting on here about their neighbour erecting a fence right down the middle of their shared driveway...?? :eek:

Yeah it did cross my mind - but there were issues with who actually owned that and the deeds (or whatever) stated they owned half each I think rather than the bit between them, even though it was a usual set-up of a single driveway which had garages to the left and right at the end.


Because this is a new-ish property, I am guessing the shared bit will be all out the front. They do that with a lot of estates or small builds now where it's all one area and they all seem to be privately responsible for it.


Did wonder whether it might be worth double checking with the solicitor exactly how it was written up (in case like the above). The fact it's crossed both our minds, maybe it's not a bad shout!

hazyjo

The thread mentioned above: https://forums.moneysavingexpert.com/discussion/5836160/neighbour-blocked-garage-with-fence