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Co Ownership NI - Leasehold / Freehold
murrays2
Posts: 133 Forumite
Currently saving for a deposit on a house and was just going to purchase a property that way.
However, I have been thinking lately of applying for co ownership with the intention of staircasing to 100%. I have had discussions with a few banks who have said I can always apply to staircase quicker subject to affordability.
The only thing putting me off is the lease status of the property if I was to do it via co ownership.
As I understand in Northern Ireland, I can pick a property up to their evaluation and it can be anywhere. Would co ownership be the freeholder of the property and I would therefore be the leaseholder?
Do co ownership NI allow you to become the freeholder after you staircase to 100%?
However, I have been thinking lately of applying for co ownership with the intention of staircasing to 100%. I have had discussions with a few banks who have said I can always apply to staircase quicker subject to affordability.
The only thing putting me off is the lease status of the property if I was to do it via co ownership.
As I understand in Northern Ireland, I can pick a property up to their evaluation and it can be anywhere. Would co ownership be the freeholder of the property and I would therefore be the leaseholder?
Do co ownership NI allow you to become the freeholder after you staircase to 100%?
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