Buying freehold, we own 3 of 4 leaseholds

Buying freehold, we own 3 of 4 leaseholds

11:30 AM, 11th May 2015, About 7 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. Buying freehold, we own 3 of 4 leaseholds

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

 



Comments

by Puzzler

15:19 PM, 22nd September 2015, About 6 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.


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