Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
I am a first time buyer looking to buy a property which is a first-floor, FREEHOLD maisonette. The property was first listed by the agent as freehold and they have since removed this part of the listing (suggesting to me that it is in-fact an issue).
I have downloaded the Land Registry document which shows the freehold as being all of the front driveway of the property (shaded red) then the area encompassing the property is shaded blue. It is a first floor maisonette (used to be a semi detatched house now divided in to 2 maisonettes) and the owner of the downstairs maisonette owns the back garden.
The Property register states “The freehold land shown edged with red on the plan of the above Tutle filed at the Registry ….. NOTE: As to the part tinted blue on the title plan only the upper maisonette is included in the title.”
I think I am right in saying that this doesn’t class as a flying freehold, and if it was, then I would be unable to get a mortgage based on that anyway. I am, however, interested to know whether freehold flats are as difficult to take a mortgage out on as the same problems as flying freeholds would occur over ownership/responsibility of structural issues.
If anyone with any experience or advise on this matter could shed some light, I would really appreciate it. If it is purely the case that the property would be slightly more difficult to sell on, If I get it for the right price, then surely this would be less of a risk?
Thanks Kat 🙂
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