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hippy
Currently with Nationwide:
Freehold Flats and Maisonettes in England, Wales and Northern Ireland
In general we will not accept freehold flats or maisonettes. Where each flat in a block has its own separate freehold title, these are unacceptable securities for us.
However, for most cases initially described as a 'freehold flat' there is usually no lease on the flat to be occupied and the occupier of the flat will be the freeholder of the whole block.
Acceptable
Providing there are no more than four flats in total and the remaining flats are all subject to long leases, the flat without the lease is a suitable freehold security.
Unacceptable
If there are five or more flats in the building, the application must be treated as a commercial proposition.
If the remaining flats are let on shorthold tenancies, the application must be regarded as a commercial proposition.
The above is pretty unusual and dependent on the lease durations of the other flats so generally freehold only flats are far more problematic to mortgage.