Frehold flat


S

Stickems.

Is it necessary to have a lease when you buy a freehold flat? The flat is
one of 12 in a block and each flat owner owns 1/12th of the freehold of the
block.
 
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R

Richard Faulkner

Stickems. said:
Is it necessary to have a lease when you buy a freehold flat? The flat is
one of 12 in a block and each flat owner owns 1/12th of the freehold of the
block.
In practical terms, yes.

Many lenders will not lend on freehold flats, making them difficult to
sell etc..
 
A

Andrew MacPherson

Stickems.@last.invalid (Stickems.) said:
The flat is one of 12 in a block and each flat owner
owns 1/12th of the freehold of the block.
Our block of 36 is run as a limited company, which owns the freehold. We
each have a share in the company and I suppose we could decide not to
extend our lease when it next comes up. I suspect we might though. :)

Andrew McP
 
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M

Matt Robertson

Stickems. said:
Is it necessary to have a lease when you buy a freehold flat? The flat is
one of 12 in a block and each flat owner owns 1/12th of the freehold of
the
block.
Have the freeholders set up a management company? If so, it may well be
that the company has created leases, which a lot of lenders will accept.
 

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