Buying A Free Hold

Avatar Image
postage | 13:52 Mon 03rd Nov 2014 | Civil
2 Answers
Can someone help me? My free holder has served a 2 months’ notice
Offering us to buy the free hold he said he wants 15K from each flat
There are 4 flats in total.
I want to buy but don’t have the money, can I add this on my existing mortgage.
As a addional loan


1 to 2 of 2rss feed

Best Answer

No best answer has yet been selected by postage. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
you will need to ask the person who holds the mortgage
where are you ?

The going rate for buying a free hold is ten times the ground rent
I pay £50 a y ground rent - so it would be £500

obviously different in London and you also have to look at how long the lease has left to run

I am in Manchester and with rates such as I have described the usual advice is that it is never worth buying the freehold

Your circumstances may be commpletely different
for a start you would be buying a 'flying freehold'

as or adding it onto your mortgage ask your morrgage lender -
it will depend on how much equity there is left in the property

1 to 2 of 2rss feed

Do you know the answer?

Buying A Free Hold

Answer Question >>