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  • Looking at buying a place, I would rather be outside of London and own a house but jobs dictates. So we're looking at flats.

    I hate the idea of a leasehold as well as the potential of there being big issues with the building that require fixing and having to pay up. Strangely if I needed to spend thousands in a new roof on a house (freehold) it would somehow irk me less as it's 'mine'.

    Probably being naive as I don't know anything about leasehold but what are the general things to look out for? is a Victorian house converted into 2 flats an easier lease than a purpose built multistory?

    Is a 100 year lease satisfactory?

  • I lived in a Victorian house converted in to two flats. The freehold was shared between the two flats, or I owned the freehold with the upper flat as leasehold, I can't remember exactly, but effectively all costs involving the outside or shared entrance were shared and this was specified in the deeds. It would be a pain of the upstairs owner didn't want to pay their half, but we always got along ok on that front. As the other owner was a landlord it was often fastest to get stuff sorted and charge them half.

    The quality of the conversion left a lot to be desired, but that's another story.

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