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Leasehold Flat vs. Leasehold and

A

Anon Private

Member
Leasehold Flat vs. Leasehold Flat and Share of the Freehold (Repeated because there is an advert blocking the title).

In the area that I am currently looking. there are two blocks of flats. The 'better' block has leasehold flat, the other block has leasehold flats and a share of the freehold. What weight should I put on the fact that that one black includes a share of the freehold, are there any disadvantages to owning a share of the freehold?

Thanks
 
Nicholas Wallwork

Nicholas Wallwork

Editor-in-Chief
Staff member
Premium Member
Hi,

I've deleted your other posts as they were duplicated twice and we can comment here now :)

Leasehold only is where someone else obviously owns the freehold. What this means is that you may loose some of the flexibility and "control" of the flat. The roof structure and colour of the windows may not be altered in some cases and external moderations are usually always banned or tightly controlled.

With a share of the freehold all owners also own the freehold together. The plus point is you can jointly agree changes you want but a negative is you as a collective group will have to run the building. This is often down by appointing a managing agent but it does require more input. Some blocks have a handful of residents already elected to speak on behalf of the freeholders so it may be covered but others do not so it's important to find out how the block is currently run and managed as the t could be left completely meaning the communal areas will become run down and other such issues...

To pros and cons of both but provided the block is well maintained and a management company in place a share of the freehold is usually seen as more desirable...




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A

Anon Private

Member
Thank you.

I will soon be viewing a flat where, evidently, and a Residents Association manages the block.

I am wondering If would be required to assist in the management of the block if I became a resident?

I wonder how well the system works in practice. How can I check?
 
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