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I've heard that a 'freehold' flat is almost impossible to mortgage. Could be wrong.
Currently with Nationwide - It's fine (with them) as long as there are less than 5 properties within the block.
Is it the EA cocking up and failing to mention that the freehold for the building came with the flat?
It's mentioned that the sale includes Freehold to the entire building. Maybe I should get them to make it clearer?
http://www.rightmove.co.uk/property-for-sale/property-53871195.htmlIt's usually because share of freeholders CBA to grant themselves leases leading to comedy further down the line.
Haha, yep, well we would have done if Nationwide hadn't accepted the property in it's current tenure setup.
pifko-
It's mentioned that the sale includes Freehold to the entire building. Maybe I should get them to make it clearer?
Yeah I mean it's marketed as a Flat, not Flat + freehold of block and all that comes with it.
As above offer them a lease and set up a Co. and charge for service. Does the existing lease on the flat above have prevision for service charges?
Howard
Hmmm in fairness that's very different to buying a 'normal' flat. Is it the EA cocking up and failing to mention that the freehold for the building came with the flat?
I've heard that a 'freehold' flat is almost impossible to mortgage. Could be wrong.