Freehold & Leasehold

First of all, apologies if this is in the wrong section and apologies if this has been answered before. I have searched but cannot find a similar problem.

I bought my house in 2004 off my Grandad. He bought it off his sister-in-law many many years before that and she bought it from new in the 1920's so I know the history of the house. In a few months I will be in a position to pay off the remainder of my mortgage and finally become mortgage free. I have just done a search on the HM Land Registry website and my house is listed as Freehold and Leasehold. I don't know what this means or I don't know if its a problem. Around 5 years ago I switched my mortgage from Landmark to HSBC and there was no troubles doing so. 

I don't really know what to make of it. Should it only be a freehold? Should I do anything about it prior or after my mortgage is paid? How much does it cost to rectify? I don't have any solicitors involved or anything. 

Ideally, once I own the house, I would like it to just be a freehold and I would also like to obtain a copy of the deeds and what land I own. I am a complete novice at all this and any information would be greatly appreciated.

Thank you for your help in advance.

Phil
New to all this, heres hoping I join the club of winners!

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Comments

  • I would also like to add, when I search the Land Registry, when I click on the leasehold result, it shows the exact address for the property and how much I purchased the house for in 2004. When I click on the freehold information, it doesn't give much information out and just lists the property description as 'Properties at Broad Lane, Lewisham Road, Muirhead Avenue East, Norris Green Crescent and Winskill Road, Liverpool'

    I would of thought that information would of been the other way round. 

    Again, I'm not sure about all this.
    New to all this, heres hoping I join the club of winners!

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  • eddddy
    eddddy Posts: 16,430 Forumite
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    So it sounds like you own a leasehold house.

    And somebody else owns the freehold of your house.

    Is that what you expected? You should check how long you have remaining on your lease.

    You almost certainly will have the statutory right to buy the freehold of your house - but if the lease is short, that might be quite expensive.


  • Many thanks for your reply. How would I go about doing that? HM Land registry say I need to get in touch with the council but I can’t find the right department.  
    New to all this, heres hoping I join the club of winners!

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  • eddddy said:

    So it sounds like you own a leasehold house.

    And somebody else owns the freehold of your house.

    Is that what you expected? You should check how long you have remaining on your lease.

    You almost certainly will have the statutory right to buy the freehold of your house - but if the lease is short, that might be quite expensive.


    I would of also thought when I bought the house 18 years ago and changed over the mortgage 5 years go, all this would of been explained or pointed out. I’m worried that when I pay off my mortgage, that I have to pay thousands more to actually own the house and land it’s on. I don’t know what to make of it. Im getting quite worried about it to be honest. :(
    New to all this, heres hoping I join the club of winners!

    A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z
  • So I have obtained my deeds and it’s mentions a pepper corn lease with 999 years on it starting in 1981 when my great grandad and great nan bought the house. 

    How would I go about obtaining full ownership on the house? I’ve read it could only be a few hundred quid. 
    New to all this, heres hoping I join the club of winners!

    A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z
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