Buying freehold, we own 3 of 4 leaseholds
11:30 AM, 11th May 2015, 11 years ago
11
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In 2012 we bought brand new flats in a brand new building of 4 flats. Out of the blue we were able to purchase a third flat in the building which we did.
Obviously the management charges are for us to be responsible for x3.
We don’t know how to go about the possibility of buying the freehold and whether the freeholder is obliged to sell to us as we own 75% of the flats in the building.
If anybody could point us in the right direction we would appreciate it.
Many thanks
Mike
Jackson
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3:19 PM, 22nd September 2015, About 11 years ago
I have just found out from my broker that regular B2L lenders will not lend on property where you own more than a certain percentage of the block. They consider their exposure too high. They also won’t lend to you for a leasehold property if you own the freehold EVEN AS A LIMITED COMPANY if you are in any way a part of it as this also increases their exposure. You would have to approach a commercial lender.