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Buying leasehold plus freehold

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  • Buying leasehold plus freehold

    I am in the process of buying a leasehold flat, but the transaction is confusing since the current owners of the flat also bought the freehold of the building which contains 2 other flats in addition to the flat we are buying. The freehold title is owned outright by the leaseholders, in the same names as the leasehold title, the other 2 flats in the building do not own the freehold, so it was not a normal collective enfranchisement.

    I have not yet submitted my mortgage application, and am wondering if this situation will cause confusion with the lender?

    Has anybody come across this situation before or does these all seem to be in order?

    Many thanks

  • #2
    Re: Buying leasehold plus freehold

    Don't get the freehold involved with the mortgage - buy it cash - have the mortgage just on the leasehold.

    Anyway if there are three flats the present freeholder will have to give a section 5 notice to give the other two flat owners the opportunity of exercising the right of first refusal to buy the freehold, so you might not get it - or at best would share it with the other two.
    RICHARD WEBSTERwww.rwco.co.uk
    As a conveyancing solicitor I want to be helpful (England/Wales only) but can't accept liability for this.

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