Multi-Million/Billionaires Owning Farms
Society & Culture0 min ago
No best answer has yet been selected by Priesty. 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.Basically, it is because the lenders do not like the fact that the owners are effectively left to their own devices as far as repair and maintenance is concerned. The lenders fear that if a block of freehold flats have no external landlord or separate management company collecting a service charge and arranging maintenance and repairs, then the work won't get done and the properties will fall into disrepair. Have you tried Nationwide? I've had two mortgages for freehold flats with them in the past.