Equity release

[parkesquay]

If a block of apartments follows the correct procedures(i.e. majority in favour etc)and purchase the freehold of that block does this negate any equity release for an individual apartment leaseholder at a later date.
Regards

[ubasses]

I am sure the freehold has to be bought through a company set up by the leaseholders in agreement to purchase who then manage the block of flats including maintenance. The ownership of the flat's lease therefore remains separate for applying for equity release. If you have to borrow money to opurchase the freehold they will obviously take this into account when working out affordability.

[parkesquay]

Thank you for takingthe time to repley. Much appreciated
Regards