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    • John Ban
    • By John Ban 16th Apr 18, 9:58 AM
    • 3Posts
    • 0Thanks
    John Ban
    Mortgage for a freehold flat .
    • #1
    • 16th Apr 18, 9:58 AM
    Mortgage for a freehold flat . 16th Apr 18 at 9:58 AM
    Hi,
    I am renting for the past years a freehold flat and I decided that is time to go forward on the property ladder.
    Can i get a mortgage for a freehold flat as a first time buyer because Iím intending to make an offer to my landlord ? If no, why ?
    Regards,
Page 1
    • YHM
    • By YHM 16th Apr 18, 10:51 AM
    • 595 Posts
    • 224 Thanks
    YHM
    • #2
    • 16th Apr 18, 10:51 AM
    • #2
    • 16th Apr 18, 10:51 AM
    Freehold flats are quite specialist in terms of lender options.

    But, yes, there are no further restrictions put on you as a First Time Buyer in regards to property choice, so you should be fine. Find a broker and let them source an appropriate lender for you.
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
    • Tom99
    • By Tom99 16th Apr 18, 10:54 AM
    • 3,115 Posts
    • 2,172 Thanks
    Tom99
    • #3
    • 16th Apr 18, 10:54 AM
    • #3
    • 16th Apr 18, 10:54 AM
    Are you sure its not the usual arrangement with your landlord owning a long lease of the flat but also a share of the freehold?
    • John Ban
    • By John Ban 16th Apr 18, 12:50 PM
    • 3 Posts
    • 0 Thanks
    John Ban
    • #4
    • 16th Apr 18, 12:50 PM
    • #4
    • 16th Apr 18, 12:50 PM
    Thank you YHM for your answer!

    Tom99, yes, i am sure the flat is freehold.
    I have tried to find out on my own but online I found different options in regards with the freehold flats saying that I won!!!8217;t be able to get a mortgage on it! I am very confused why would a lender decline financing a mortgage for this tipe of property.

    Regards,
    • Tom99
    • By Tom99 16th Apr 18, 4:02 PM
    • 3,115 Posts
    • 2,172 Thanks
    Tom99
    • #5
    • 16th Apr 18, 4:02 PM
    • #5
    • 16th Apr 18, 4:02 PM
    Thank you YHM for your answer!

    Tom99, yes, i am sure the flat is freehold.
    I have tried to find out on my own but online I found different options in regards with the freehold flats saying that I won!!!8217;t be able to get a mortgage on it! I am very confused why would a lender decline financing a mortgage for this tipe of property.

    Regards,
    Originally posted by John Ban
    Have you checked the Land Reg to make sure there are no leasehold titles listed?

    https://www.gov.uk/search-property-information-land-registry
    • Mortgage_Adviser
    • By Mortgage_Adviser 16th Apr 18, 4:54 PM
    • 199 Posts
    • 80 Thanks
    Mortgage_Adviser
    • #6
    • 16th Apr 18, 4:54 PM
    • #6
    • 16th Apr 18, 4:54 PM
    Where about in the UK is the property? It is not in Scotland is it?
    • John Ban
    • By John Ban 16th Apr 18, 5:09 PM
    • 3 Posts
    • 0 Thanks
    John Ban
    • #7
    • 16th Apr 18, 5:09 PM
    • #7
    • 16th Apr 18, 5:09 PM
    Yes Tom99 , i did check with the land registry.

    The flat is in West Sussex.
    Unfortunately the mortgage advisor told me that being a freehold, i will have difficulties on getting a mortgage at a resonable cost. :-(
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