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Extortionate Fees by Freeholder
spartacus1291
Posts: 2 Newbie
I am buying a leasehold property and was advised the fee charged by the freeholder to register my ownership at the land registry would be £174. Oh well, not what I wanted but so be it.
I have been advised that the freeholder is charging an EXTRA £264 as the freeholder is not the original freeholder (Barrett Homes was). This brings the total to £438 to register as the new owner.
I would welcome any advice as this is profiteering, I believe and very unethical.
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Comments
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So how much more is the property worth as a Freehold property compared to a leasehold.
Not sure myself as I wouldn't touch a leasehold property with a barge pole !
Think about it or ask a local estate agents.
Rip off maybe but piece of mind for less than £500 !0 -
Your post isn't too clear. Firstly, are you buying a house or a flat? Who is the freeholder now?
If it's a flat - is it 'share of freehold'? If so, is the freehold owned by a company, or by a number of individuals?
The freeholder wouldn't normally register your ownership with Land Registry - unless perhaps it's "Share of Freehold" with 4 or fewer joint-owners.
Are you perhaps talking about a "Notice of Assignment of Transfer and Charge" and/or "Certificate of Compliance"?
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