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Seller owns "Full" Freehold are legally obligated to buy both?

We are First Time Buyers and have had an offer accepted on a 1st floor flat advertised as "Share of Freehold" however it has now arisen that the seller owns the "Full" Freehold (both ground floor [under a family members name] and first floor flats [under her own name]) and is trying to include both in our sale. We have checked and confirmed with potential lender that they will not provide a mortgage on a flat the owns the "Full" freehold. I just want to confirm my understanding that there is no LEGAL obligation that we have to purchase both ground floor and first floor freeholders from the seller?

Asked on May 4 2017, General in London | Report content

Answers (3)

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  • Your question indicates there must be a lease on the downstairs flat and that the vendor owns the FH on the whole building subject to any leases, and the 1st floor flat. Perhaps ask the seller to grant a lease to the 1st floor flat, so that meets lenders requirements and on completion transfer you the FH.

    Answered on May 7 2017, Report content
  • Hello - it doesn´t sound like it to me but this is something that needs to be looked at carefully by a solicitor. Not sure when the property was built / converted into flats but leases can come into their own and can contain variations. If you select the "SERVICES DIRECTORY" in the top navigation of the site below, you should be able to find a local professional. Feel free to post again if you have no luck there (a new post would be better so it is seen). All the best with your purchase.

    Web reference: http://www.lease-advice.org/

    Answered on May 7 2017, Report content
  • You may also want to check if you could obtain a share of the freehold prior to completion as the lender shouldn´t object to this.

    Answered on May 9 2017, Report content

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