ChatterBank2 mins ago
Buying A Free Hold
Can someone help me? My free holder has served a 2 months’ notice
Offering us to buy the free hold he said he wants 15K from each flat
There are 4 flats in total.
I want to buy but don’t have the money, can I add this on my existing mortgage.
As a addional loan
Offering us to buy the free hold he said he wants 15K from each flat
There are 4 flats in total.
I want to buy but don’t have the money, can I add this on my existing mortgage.
As a addional loan
Answers
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where are you ?
The going rate for buying a free hold is ten times the ground rent
I pay £50 a y ground rent - so it would be £500
obviously different in London and you also have to look at how long the lease has left to run
I am in Manchester and with rates such as I have described the usual advice is that it is never worth buying the freehold
Your circumstances may be commpletely different
for a start you would be buying a 'flying freehold'
as or adding it onto your mortgage ask your morrgage lender -
it will depend on how much equity there is left in the property
The going rate for buying a free hold is ten times the ground rent
I pay £50 a y ground rent - so it would be £500
obviously different in London and you also have to look at how long the lease has left to run
I am in Manchester and with rates such as I have described the usual advice is that it is never worth buying the freehold
Your circumstances may be commpletely different
for a start you would be buying a 'flying freehold'
as or adding it onto your mortgage ask your morrgage lender -
it will depend on how much equity there is left in the property
1 to 2 of 2
