8:34 AM, 6th June 2014, About 10 years ago 8
I am in the process of purchasing a leasehold property. I haven’t come across this particular issue before. Instead of the standard repairing and maintenance being down to the freeholder and then being charged back to the leaseholders, this rather archaic lease frees the freeholder of this obligation and leaves it down to the leaseholders to sort out between themselves. So that would leave the leaseholders in charge of deciding when and how to do maintenance and then making sure that all pay up!
I can see this being a problem when it comes to future financing or selling to someone with a mortgage.
Has anyone come across this and if so should I be buying this?
Thank you for your advice!