Flying Freehold help!

Flux_89

Hello 

I have read many of the discussions on here, but I am still confused about how likely we are to get a flying freehold mortgage on the house we are purchasing. 

We had an offer accepted three months ago for a property. On closer inspection by our surveyor a creeping freehold was found under our stairs, we immediately noted our surveyor who also noted a small flying freehold in the toilet and in the garden. 

The total flying /creeping freehold footprint amount to less then 10% of the floor plan. 

However none of these spaces are mentioned on the deeds or title/ boundary. 

The Vendor is offering indemnity as neither him on neighbours want to put in place covenants/ re draw boundary.  However, our solicitors say the property is likely to be un mortgageable as the flying freehold/ creeping not mentioned on any paper work so indemnity is not possible. 

Is anyone able to share their own experience or opinion on this. 

Many thanks 

NameUnavailable

I think you need to speak to a mortgage broker.

user1977

Sounds like the problem isn't that you have a flying freehold title but that you have no title at all to those parts? But I would have thought that indemnity insurance would still (normally) be an option.

Flux_89

Thank you both ! 

I’ve emailed my mortgage broker today and solicitor again today. 

Yes there is nothing on the title at all. It us semi detached, the boundary line just goes straight down the middle however, the floor plan doesn’t reflect this and instead shows the flying free hold. 

It’s an old house so I don’t think this is uncommon and the vendor seems very calm about it all going through ( probate property) it is our solicitors who seem very concerned. 

loubel

Why insure when the issue can be rectified by a Deed between the properties. If the seller and his neighbour have been discussing the issue then he won't be able to insure against disputes in any event. 

user1977

loubel said:

Why insure when the issue can be rectified by a Deed between the properties. If the seller and his neighbour have been discussing the issue then he won't be able to insure against disputes in any event. 

True, I hadn't spotted they appear to have already discussed with the neighbour. In the interests of both parties to get it sorted properly in that case.

Flux_89

Thank you , this is really helpful. 

Flux_89

Our solicitors said it was also not possible to get indemnity if the correct covenants and access rights are not in place, if there is nothing in the deeds even mentioning a flying free hold, does anyone know if this is correct? I’m not sure what type of indemnity could work in this situation? 

Flux_89

Just to be clear I don’t know if they have spoken to each other. I just know that when our solicitor agreed for right access, covenants to be drawn up the response was no and indemnity offered instead. 

Flux_89

Sorry argued for right of access.