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Leasehold with freehold - implications?

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  • Leasehold with freehold - implications?

    Hello, I am a first time buyer. I have recently made an offer and had it accepted on a ground floor conversion flat, the property is leasehold of the flat with the freehold of the building (a conversion house with a second flat above)
    I am clear on the terms leasehold and freehold, and have the lease paperwork for both properties where it is clear that responsibility is 50/50. However Im unclear what having the freehold of the building as well as the leasehold for the flat Im purchasing means. Could anyone explain in basic terms what it means please?

    Really appreciate any advice or support.

  • #2
    Re: Leasehold with freehold - implications?

    As freeholder you will be responsible for complying with the landlord's covenants in the leases, e.g. to maintain structure and insure the whole building. Hopefully you will be able to recover half of the costs of this compliance from the lessee of the other flat, but your solicitors will need to advise you about this.
    RICHARD WEBSTERwww.rwco.co.uk
    As a conveyancing solicitor I want to be helpful (England/Wales only) but can't accept liability for this.