Surveyors Report Says....Flying Freehold

Jonboy_1984

When we bought our first property we got a AIP for a specific bank before looking for properties. Our broker warned us the bank in question didn’t offer that particular mortgage deal (95% LTV) on flying freehold properties, and to talk to him before offering if one was involved. 

That was nearly 20 years ago and the bank (Northern Rock) doesn’t exist anymore but presume there may be others out there with similar restrictions.

RHemmings

I wasn't aware of the term 'flying freehold' before I saw this thread - even though I guess that some terraced properties I have considered buying may have flying freehold due to rooms having some area above shared passages. 

This article was useful for helping me understand the concept. Indemnity insurance as already recommended/discussed in this thread is mentioned. 

https://www.pettyson.co.uk/about-us/our-blog/421-flying-freehold

Mustbeananswer??

RHemmings said:

I wasn't aware of the term 'flying freehold' before I saw this thread - even though I guess that some terraced properties I have considered buying would have some due to rooms having some area above shared passages. 

This article was useful for helping me understand the concept. Indemnity insurance as already recommended/discussed in this thread is mentioned. 

https://www.pettyson.co.uk/about-us/our-blog/421-flying-freehold

Thanks RHemmings the article was very good.I am not phased that it might be difficult for me to sell on (Mortgage Wise).I am 65 and this is a cute little place and I am expecting it to be my last move.

eddddy

Mustbeananswer?? said:

The footprint of the cellar

does appear to be larger than that of the ground floor and it is therefore

reasonable to assume that there may be some form of Flying Freehold.

If your cellar goes underneath somebody else's property, what you have tends to be called a "creeping freehold".

And the neighbour's property is above yours, so what they have tends to be called a "flying freehold". 


In simple terms, the reason it's a problem for you is because part of the neighbour's house is probably protecting part of your cellar.

So if the neighbour decided to knock down their house, or if it burned down, there might no longer be any protection above part of your cellar ceiling - and the rain might start leaking in.

Similarly, if you decided to knock down your house and cellar, there would be nothing to hold-up part of your neighbours house.

propertyrental

Maintence /repairs can also be an issue - hence why a Deed specifying responsibilities/rights is idea.

As someone suggested above, if the neighbours get on, and agree, all is fine. But get a dispute and it can be a nightmare either to get the neighbour to contribute to costs or, worse, even to agree to any required maintenance work .being undertaken.

Who owns/is responsible for the structural walls in the 'shared' space?
What happens if the cellar ceiling/ground floor is damaged/gets woodworm/damp/ whatever?
.......?

BungalowBel

timehastoldme said:

We have a flying freehold over the alley between us and next door, we took out an indemnity insurance, it was no bother.

Next door had a flying freehold over our alley (the opposite to you), we also took out indemnity insurance with no problem.