Freehold flat

[Rusky]

I'd like to buy the ground floor flat in a 2 flat house, as a freehold (not a share of freehold). There is no lease on the flat but there is a lease on the other flat. Is this possible?

[Buenchico]

The only way to do it would be to acquire the freehold on the whole house. Not impossible (if everyone involved agrees) but definitely something to get a solicitor involved in.

Chris

[Rusky]

It is a freehold for the whole house. My solicitors wont touch it but others give the impression it is posisble. What could be the complications?

[Scarlett]

I think the only way you could do this is to buy the share of the freehold off the other people living n the house. They would be mad to say yes! Presumably you want to have the sole right to do whatever you like to your flat without asking some stranger's permission?

I live in a shared freehold house, and we have come to an agreement between ourselves that I do what I want to my flat and she does what she likes to hers! We are not knocking down walls or anything, but we barely have anything to do with each other, other than we share the cost of the buildings insurance. Could you try that with your neighbour?

[Courtney Cox]

As far as I know this is possible. This situation often occcurs when a person who owned the whole house converted the property into two flats. They may have remained in the ground floor and sold the upper flat, but would have been required by law and the purchasers mortgage company to produce a lease for the upper flat to be able to sell. If you are purchasing this type of property, then your mortgage lender & solicitor will need to see a copy of the upper flats lease. If you proceed, you will become a Landlord/Freeholder to the upper flat. Contained in the lease will be the responsibilities of you as a Freeholder to the upper flat i.e To maintain the exterior or roof of the property. This often means that you are responsible for instigating the work ang getting quotes. This does not necessarily mean you will incur the full financial costs as there will be clauses in the lease stating what responsibilities the upper flat has. You may find in a typical two story building that the maintenance is split 50/50 between the two flats. You will most likely receive a Ground Rent form the upper flat at approx �50 pa, although it could be slightly more. If the upper lease is less than 80 years remaining then you're onto a winner as the upper flat, if and when they come to sell may wish to extend the lease for which there will be a charge payable to yourself as the Freeholder(this could be thousands of pounds).The maintenance requirements I think is one of the most important aspects when buying any flat so get that checked out carefully by your solicitor. Good Luck!

[Rusky]

Thanks.