leasehold houses...
Discussion
http://www.rightmove.co.uk/viewdetails-11002479.rs...
First one i've seen. Are they particularly common in certain areas?
I would assume that a house with a job such as a teacher etc may be held on a long lease - but I've never come across a normal family house that's on a long lease.
Could have something to do with the golf club I guess but I would be surprised if that were the case...
First one i've seen. Are they particularly common in certain areas?
I would assume that a house with a job such as a teacher etc may be held on a long lease - but I've never come across a normal family house that's on a long lease.
Could have something to do with the golf club I guess but I would be surprised if that were the case...
Edited by princeperch on Tuesday 7th October 11:31
Not Ideal said:
M3ax said:
Very common. My flat is leasehold but with a share of freehold. I just made an offer on another place which is leasehold (999 years - so "virtual" freehold)
+ 1. Goes for a lot of stuff in central London.
It can also give more 'power' to enforce covenants as it is easier to do so under the terms of a lease, and those with the benefit of the covenants are more easily ascertainable.
This works very well were you have a genuinely 'exclusive' development where it is expected that there will be a certain level of interaction between the owners as to how the development will run in practical terms. Particularly if there are things like long gravel driveways and common facilities, such as a private beach, tennis courts etc.
It also appears to me that there was a bit of a fad for these in the early ’80’s with a couple of developers, but this is just an observation.
I see.
I knew about flats being held on a lease (obviously) and the reasons for this but I have never come across a standalone, detached family house held on a lease like this.
Not sure of it's age so you could well be right if it's of an 80's vintage. I can't see the advantage of it myself if the house is totally self contained and has defined boundaries...(apart from for the developers obviously)
I know a couple of people that have houses in country parks, like Goldings in Hertford - the houses are all f/h I believe but with a whacking big charge for the upkeep of the grounds, drive etc.
I knew about flats being held on a lease (obviously) and the reasons for this but I have never come across a standalone, detached family house held on a lease like this.
Not sure of it's age so you could well be right if it's of an 80's vintage. I can't see the advantage of it myself if the house is totally self contained and has defined boundaries...(apart from for the developers obviously)
I know a couple of people that have houses in country parks, like Goldings in Hertford - the houses are all f/h I believe but with a whacking big charge for the upkeep of the grounds, drive etc.
Edited by princeperch on Tuesday 7th October 11:46
our house is on a 999 year lease from (I think) 1985. £50 per year ground rent.
I believe the homeowner is entitled to purchase the land after living on it for 2 years, if an agreement can be reached on the value - thus making it a freehold.
It's not really an issue, AIUI, unless there is limited length of the lease. We lived in a flat in London that had 67 years lease remaining (out of 99) when we bought it. When we sold, 62 years was considered "too short" by most buyers. We paid the freeholder a few thousand to extend the lease to 200 years.
I believe the homeowner is entitled to purchase the land after living on it for 2 years, if an agreement can be reached on the value - thus making it a freehold.
It's not really an issue, AIUI, unless there is limited length of the lease. We lived in a flat in London that had 67 years lease remaining (out of 99) when we bought it. When we sold, 62 years was considered "too short" by most buyers. We paid the freeholder a few thousand to extend the lease to 200 years.
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