Property - Leasehold to Freehold

parkesquay | 19:46 Mon 21st Nov 2005 | Business & Finance

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I am just about to move into one of 4 apartments in a newly converted Grade 2 Listed building. There are no external communal areas or parking and the only internal communal area is the front entrance and hallway. With so little to do by the way of regular maintenance the Freeholder wants to give the the freehold to us the occupiers at negligiable cost. Seems a good idea to me but does anyone know what the new co-operative(probably not the correct word)should then take out as insurance and are there any hidden dangers for us?

�2000 retention on Mortgage

remortgage

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