Buying a lease hold flat?

[Engineer54]

Virtually All flats/apartments are leasehold properties, leasehold houses on the other hand are much rarer than Freehold houses., though i did hear that some housing estate developers are hanging on to the freeholds and selling on with lease holds. I know of quite a few estates in Bracknell and in Kent where this has taken place...

 

[tazz]

Lease hold can be a nightmare.....Bellway and other companies are building flats at an enormous rate....their idea is to charge ground rent plus maintenance....this puts aprox £190 ground rent & maintenance per month on the bill. This has been a growing concern on what is called affordable housing in the UK

 

[sammyshooter]

Depending on your area, there are nominated surveyors who calculate how much an extension of the lease will be. This normally happens around 80 years. Is it ex local authority or a private development? Your right about the mortgage part!

 

[Engineer54]

Lease hold can be a nightmare.....Bellway and other companies are building flats at an enormous rate....their idea is to charge ground rent plus maintenance....this puts aprox £190 ground rent & maintenance per month on the bill. This has been a growing concern on what is called affordable housing in the UK

Commonly called ''Out and Out Greed!!

 

[Breeze]

Evening all..

Just wondered if anyone here has any experience of buying a house or flat that is leasehold?

I'm thinking of buying a flat and its leasehold, it has about 68 years on the lease. From what I've read it should have above 80 years otherwise could be hard to sell (difficult to get a mortgage)?

Just looking to see if anyone has bought or sold a leasehold and if everything went smoothly or if they had problems?

Cheers..[/QUOTE
try to agree a price for the lease renewal before purchase, I personally would touch it with a barge pole( I keep it my pipe vault before you ask) my first flat I bought had a 989 year lease when I bought it, as it 10yrs old,
im guessing the flat is a good price, probably why your interested, but the reason it's cheap is the short lease

 

[telectrix]

better b uy a plot of land with planning. bung a static on it to live in while you do a self build.

 

[Octopus]

better b uy a plot of land with planning. bung a static on it to live in while you do a self build.

If only it was that easy.

 

[Midwest]

Have you asked if you can buy the free hold for the property, did that with a house a few years ago, and it wasn't too expensive. Some landlords may want to move on, flats are slightly more complicated, having said that I know someone who is just doing that. Again, best ask a conveyance solicitor.

 

[Breeze]

Virtually All flats/apartments are leasehold properties, leasehold houses on the other hand are much rarer than Freehold houses., though i did hear that some housing estate developers are hanging on to the freeholds and selling on with lease holds. I know of quite a few estates in Bracknell and in Kent where this has taken place...

All the new houses that are built by the housing association I work for are
lease hold as it nearly eliminates the use of the right to buy scheme

 

[7029 dave]

Freehold every time.