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What is a leasehold property? Written by Marianne Curphey. You own the property for only a set amount of time — this is the lease. What is leasehold and how does it work? How long is a lease? What happens when a lease ends? Can you extend a lease?
Can you buy the freehold? Can you sell your leasehold property? Commonhold Properties Finally, commonhold provides a relatively new alternative to long term leasehold as it allows owners to be responsible for their individual properties with no time limit on how long you own the property.
Residential mortgages explained. Find out how much you could borrow. Read our guide on shared ownership. In this guide. Commonhold Properties. The rules about leasehold property are different in Northern Ireland. To help us improve GOV. It will take only 2 minutes to fill in. Cookies on GOV. UK We use some essential cookies to make this website work. Accept additional cookies Reject additional cookies View cookies. Hide this message.
Home Housing and local services Owning and renting a property. On the day we completed and I picked up the keys, I was able to check the mailbox only to find a notice that the developer freeholder submitted plans to build a 5th floor extension. They have not brought up this during negotiations and the other tenants that have also recently moved in has felt that our property value will now drop.
I was wondering who I would consult regarding this first issue. In my property itself, the developer has not been around to perform a snagging review and we have found faults with the property such as a wall being built slanted causing the window to scratch the wall everytime we open it. I would just like to know who I can talk to as I feel that with the issue of the building extension and the developers freeholder failure to disclose this information during negiotations, I was unable to make an informed decision and was deceived into completing this contract.
I have confirmed that my solicitor and the selling agent were both unaware of this as well. Can I claim violation of my right to quiet enjoyment of my flat? And secondly with the state the property is in, especially with the lift being out of order while tenants were moving in is a complete disgrace and must be in breech of duties to maintain the property as a freeholder.
Your advice would be much appreciated. Have a freehold house on an estate managed development. Am I arrears and management company want to go to my mortgage company and get them to pay the arrears.
The arrears have been caused by extra charges, finance charges, balancing fees, debt collectors fees. Four different management companies have been involved over the last 14 years. First two years no invoices were sent out. I am 68 on my own and living on a state pension. The letters I have received have made me really ill. Have offered them increased monthly payments with my daughter helping me. But it has been refused. The company are Hurford Salvi Carr in Hertford. I hope you can kindly advise me.
I own the freehold for the whole building and live in the first floor Flat and the leaseholder lives in the ground floor flat below. We have had a fraught relationship from day 1 unfortunately. I own the freehold on the top floor flat in a converted old property of two flats.
The owners downstairs wish to remortgage their property, and have asked me to establish whether there will be any fee to do this.
I have contacted my solicitors who have stated that it is largely at my discretion, and the amount I could expect to receive would be minimal; they have also stated that this could involve a lot of paperwork! Thanks for your query. If you have a good relationship with the downstairs owner and have no problem with them remortgaging, then you could waive any entitlement to your fee and confirm that you have been notified of the remortgage if you are required under the lease to be notified of remortgages.
We own one of a three flat leasehold. We are considering attempting to buy the freehold or extending our leases to 99 years or beyond.
We have about 55 years left on the leasehold. Generally speaking, is the price of extending the lease more or less than buying the freehold. How could your organisation help us with the decision and then assist us with the process? You can get an idea of the premium purchase price for extending the lease by using our lease extension calculator tool here.
For information on the process of extending your lease, take a look at our step by step guide to extending your lease. We can help and support you through the process but you will also need professional assistance. We can help you find suitable solicitors and surveyors. I and other flat owners bought the freehold of the property a house divided to flats some yeas ago. Recent changes: Some of the flats have been bought under buy-to-let.
Question 1. Who is the landlord for a buy-to-let flat that is being rented out? Question 2. I had to have a hip operation.
There is no lift in the house. I am on the 5th floor. This seems excessive and we can get it cheaper even half that amount. Are we bound to take their insurance or can we use our own.
Please do consider joining us a member and one of our property experts would be more than happy to look into your query. My partner and I own a leasehold flat with a garden.
It is clearly shown on our lease. We are now going through the legalities of up scaling to freehold ownership with our two Neighbours. There is a small patch of land which is on the other side of a fence at the top of our garden and is accessed by a side road. Our next door neighbours quite cheekily have been using this land for some years. Now that we are applying for the freehold, it has transpired the ground floor flat in our building has that patch of land on his lease.
My question is, when the freehold goes through, will we loose part of our garden to give this neighbour right of way? Presently on our lease the garden is for our sole use, and there is no right of way. One of our leasehold experts would be more than happy to answer your query if you were to join as a member. Is this still payable? The upstairs flat would apparently pay me ground rent and pay towards the home insurance. The upstairs flat is leasehold and has 78 years left.
Would you be able to explain what that would mean for me? Would I be in anyway liable for extended their leasehold etc? We have a lease hold apartment but have a mortgage. What happens when the leasehold runs out. We pay a ground rent to one company and a maintenence fee to a management company. The ground rent does not cover any grounds or maintenence work.
Should we look to buy leesehold. What is the point of buying flat on leasehold, getting a mortgage, paying almost double the property value to the bank, paying the maintenance and other charges to freeholder, being restricted to do anything with your flat, not having permit to keep animals, etc and in fact NOT REALLY OWING the property you paid for, as in 90 years it will go back to the freeholder.
You pay mortgage all your life, you do not go for nice holiday or buy a nice car, because you have to pay your mortgage and you cannot afford any luxuries in your life and you cannot even pass the property to you kinds, because the leasehold will expire by the time they are 40 y.
What is the point of buying a property in this weird country??? My daughter is buying a house and garage that is in a block they were originally built as leasehold but the vendor bought the freehold he thought this was for both house and garage but it turns out only the house was transferred into lease hold He has contacted original solicitor who did this but it is taking forever is there anyway we can hurry this up or can you give us any idea how long this will take.
Hi I have a purpose built Maisonette worth approx. Hi, I am interested in a house but there are only 43 years left on the lease. If I buy it now and sell it after two years, whether there will be a high risk that the price of this property drop? Furthermore, it is a two-storeys house but divided by two leaseholders, one leaseholder owns the ground floor and the other owns the first floor. The one in the market is the ground floor one.
The location and the outlook of this property is very good, however the lease really made me in a dilemma. What shall I do? Mine is freehold semidetached and has a flying freehold under part of the house behind. My semi detached neighbour bought his house with the other part of house behind which had a flying freehold.
He was advised to buy a lease on the rear house. He did and in doing so where do I stand? My flying freehold is over years old. Should the leaseholder pay ground rent to me? He purchased the lease on the whole of the house behind. What rights do I have.?
As one of your prev correspondents asked? Hi — I live in a freehold house on a small development of 56 homes. Is there any regulation of the industry for freeholders? If not there needs to be as there are s of these companies demanding money for nothing and getting paid by threatening hard working people with legal action. Thanks in advance for any guidance. I am looking into buying a flat which is freehold and has one flat above which is leasehold.
I have just given permission to the next door neighbours to build an extension astride the party wall. The extension goes beyond the part wall by about 3 inches. Can I object to this and what legal process can I take? I own the Freehold on my property. I have been offered a price to buy a council Maisonette. We lived in this place for nearly 4 years and it is a good place. We had a very good offer for this property.
The landlord is Sheffield City council. I bought my flat which is an ex Council property in This is leasehold. Any advice would be welcome. What can I do I am so stressed out. I admit to being totally lacking in any knowledge about what these companies do and why I pay them!? Ive read here about how they are responsible for common areas etc? I dont recall our solicitor going into any detail when we bought the property, My questions are — can I free myself from leasehold, and more importantly for now, it sounds like Im a tenant and dont own my own property that we have bought outright — can this be correct :?
The leasehold remained for 56 years, and the agent said I can but the freehold after two years. I also can arrange for a mortgage. Can you please advise me if it is going to worth buying that house and what can be the cost of I buy the freehold after two years. Thanks Nazmin. We only have 54 years left on the lease for a flat that was left to me by my grandpa.
The flat is one of 9 in a building. Is it better for me to extend the lease or go for the freehold? We have a piece of land that we bought from the local farmers.
When we remortgaged our house, the building society include our land in with the house for the remortgage. Can they do this legally?? Hi I purchased a right to but property from a housing association freehold seven years ago.
The deal was I could not sell before 5 years and I would be able to sell back to the housing association and I would get the market value.
I emailed them asking my options and was advised to put it on the open market as they are not buying back houses now. I had no notification that they had changed the rules but they are still charging me maintenance fees. As they have changed the rules can I now refuse to pay maintenance fees? We have a freehold flat in a freehold building. The other flats are let.
The house was sold, my parents went to court and were evicted. They believed due to the lease they had and showed the court they had around 30 years left on the lease. This was disputed and another lease was requested from the land registry and they where told they was a error on the schedule they had. What can they do about this? They thought their schedule was correct… Further to this my parents have continually tried to go to court to dispute the issue to no avail, please help with some advise….
The Crown Estate have just sold the freehold to four flats which form a block next to my house. However one of the flats is empty, and under the flats there are 11 garages.
On selling the freehold, the Crown has also sold the 11 garages and the empty flat to the new freeholders who own two of the flats. Does the Crown have the right to do this? My understanding is that selling a freehold does not guarantee the freeholder the right to buy leases in the property, in this case one empty flat and 11 garages. Is it legal to automatically sell the leaseholds on enfranchisement? Hi my mother has the freehold to land but cant find the certificate how do we get a new one or a letter of ownership we live in lurgan co armagh n ireland.
The lease specifies that i also own a small portion of garden. Recently, the council contacted me saying that they ned to take mm of the garden in order to build new flats on adjoining derelict land. My question is, i am entitled to ask to be compensated for losing the portion of land?
Thanks in advance for your advice,. Hi Alex, We just spoke. Dig out a copy of your leasehold agreement. If you would like us to look at it with you and put you in touch with our legal helpline, please join us today! I bought a leasehold maisonette some 25 years ago. It is one maisonette in a block of 12 — previously council owned.
Hi John, Check your leasehold agreement and see what it says about responsibility for sewerage. If you have any further questions simply join us so we can give it our full attention.
Thanks, The HomeOwners Alliance team. My freeholders latest scheme is to sell off the vistors parking car parking places, the flats are fairly new only completed in late Part of the original planning permission was that these spaces were there for visitors to the properties.
I understand that he owns the land but would he be able to do this? Hi, we found the perfect house, perfect location, perfect plot on a small new development in Oxfordshire. Or is this the future and we are just panicking as leasehold is not the norm at present on houses? I am buying the house I have lived in for the last 25 yrs from a housing association, Freehold. The house is number 2 of a block of 6 terraced houses.
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