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Original poster

Anyone experienced buying freehold?

31 replies

makingithappen · 02/01/2019 09:07

NC was 2moveornot2move

We thought we were there before Christmas with our purchase. Then I realised that the solicitor hadn't mentioned anything about buying the freehold. Of course when I asked him he acted all surprised as if it was the first he had heard of it - even though the work is quoted for in his price! So now we are waiting for that to be sorted to complete at the same time as the sale.

Does anyone have any experience of how long it takes to purchase the freehold? We are currently waiting on the paperwork from the freeholders solicitor. I know it is a bit of a how long is a piece of string question but an idea of others experience would help.

OP posts:
nervousnelly22 · 02/01/2019 09:09

Hello! I'm a commercial property solicitor but done a fair bit of residential previously. What did your solicitor think was happening? Are you buying a leasehold property?

ForgotTheBastardElfAgain · 02/01/2019 09:12

Do you mean it’s leasehold, and you’re buying the lease with the property?

FusionChefGeoff · 02/01/2019 09:20

Freehold is a 'normal' purchase ie a house. The freehold is part and parcel of the sale - I've never needed to do anything extra.

Riotingbananas · 02/01/2019 09:23

Are you buying a leasehold home and have decided to buy the freehold alongside? It isn't terribly clear in your OP. Do you have to buy the freehold? And how many years are left on the lease?

Yulebealrite · 02/01/2019 09:26

Most people buy in the UK. It's more unusual to buy leasehold.

Yulebealrite · 02/01/2019 09:27

Most people buy freehold

Original poster
makingithappen · 02/01/2019 09:35

Sorry I wasn't clear. It is a leasehold property but we want it to be freehold so are buying the lease off the freeholder. Which my understanding is will make it freehold ??

OP posts:
GETTINGLIKEMYMOTHER · 02/01/2019 09:39

If you were buying a LH property, was the cost of buying the FH included in the sale price? It usually has to be negotiated/agreed on with the FHolder.

We have bought a FH, after buying the property, and for various reasons it was a complicated matter and took a long time. And the first solicitor we used, having told us he understood the issues, turned out to be useless, so we had to find another.

If your purchase is complete you can find out from the Land Reg whether you now own the FH or not.

JessieMcJessie · 02/01/2019 09:46

It sounds like you confused buying a freehold property (which the solicitor no doubt holds himself out as being competent to do) and buying the freehold of a leasehold property (which is more complex, case-specific and not something all conveyancers can do). It’s not standard to buy the freehold of a leasehold property unless you specifically instruct the solicitor to do that from the outset. More common to do it later, once you have completed on the freehold, I think.
Is it a share of freehold eg a flat within a building where one freeholder owns the whole building and each flat is leasehold? If so, you have to involve the other leaseholders in the process.

GETTINGLIKEMYMOTHER · 02/01/2019 09:48

Was the owner of the property you bought also the FHolder? (Not necessarily the case.). If so then buying the FH could be a relatively simple matter, but there would still be paperwork and legalities to sort out.

Sounds as if you need a serious talk with your solicitor in case the matter of the FH has been forgotten.

Original poster
makingithappen · 02/01/2019 09:52

@GETTINGLIKEMYMOTHER @nervousnelly22

Property is leasehold
Current owner negotiated with freeholder that we could purchase the lease along with the purchase of property
Purchase has already taken 12 weeks - even though we are cash buyers, there is no up or lower chain.
Solicitor seemed to have forgotten about us buying the lease until I reminded him 2nd week of December.
Everything with freeholder seems straightforward, our impression is they are keen to sell it.

Just wondering, from your experiences, how much longer we may have to wait.

OP posts:
JessieMcJessie · 02/01/2019 10:01

Sorry, you still sound confused. Did you mean to say “current owner negotiated with the freeholder that we could buy the freehold” not “buy the lease”?

Original poster
makingithappen · 02/01/2019 10:04

Not confused, just wording it wrong. We want the property to be freehold not leasehold as it currently is.

My question is, can anyone give me an idea on how long the process is likely to take?

OP posts:
Belleende · 02/01/2019 10:05

That sounds like it should be relatively straightforward, as long as the vendors are not telling porky pies. I was buying a flat advertised as share of freehold. It was anything but, leasehold, with a short lease and absent freeholders. My solicitor told me to walk away. I didn't, it took years to sort. Worth it in the end, but not quick. I would ask to see confirmation of intent to sell from the freeholder asap.

JessieMcJessie · 02/01/2019 10:13

The only person who can answer that is your solicitor, there are too many variables and case -specific factors for anyone to advise you online based on the information that you have given.

Racecardriver · 02/01/2019 10:19

sorry but how are you doing this? Is this two seperate transactions with the contract for the freehold collateral to the contract for the leasehold? Or is the leaseholder buying the freehold and then selling entire interest to you in one transaction?

Original poster
makingithappen · 02/01/2019 10:25

@Racecardriver the freeholder has waivered the usual restrictions and has agreed to sell it to us. I'm not sure exactly how it works but the end result should mean that on the day we own the property we will also own the freehold.

OP posts:
GETTINGLIKEMYMOTHER · 02/01/2019 10:33

From what you say it sounds as if it should have been relatively straightforward, but you do need to speak to your sol. to make sure the FH hasn't been forgotten. From experience, it's not uncommon for solicitors to need poking with a very sharp stick.

Our FH purchase was much more complicated, largely because it was a maisonette, one of just 2, with a supposedly absentee freeholder - he wasn't, just hiding a few miles away under another name because of debts attached to the FH! Had to use a tracing service to find him.

So it took well over a year to sort out, even with a very good specialist solicitor.

Good luck, I hope you get it sorted out soon. As I said before, you can check on the Land Registry as to ownership/LH/FH status etc.

Luckystar1 · 02/01/2019 10:36

OP what type of property are you buying (ie is it a flat? A building? Etc), some properties will be virtually impossible to obtain the freehold of just your singular unit.

Are you paying an additional cost for the freehold? Has the freeholder instructed solicitors?

Is it the intention that you will surrender your lease and only own the freehold or are there other leaseholders too?

Original poster
makingithappen · 02/01/2019 20:01

@Luckystar1 it is a 4 bed semi. I have no concerns about being able to buy it as many have in the area. Yes, we have been given a price for everything, including their solicitor fees which we have to pay. Both ours and the freeholders solicitor have been instructed, we are just waiting on the paperwork.

OP posts:
GU24Mum · 02/01/2019 22:09

So are you buying the leasehold from one person and the freehold from someone else? They're essentially two separate transactions (though can be run together). Is there a separate freehold title just for the house? If so (which sounds a bit of an odd set-up but not unheard of), you will have two interests in the same property (one freehold and one leasehold) but you can apply to have the leasehold merged into the freehold provided there is nothing else involved and no rights in the leasehold which aren't in the freehold.

Belleende · 02/01/2019 22:09

It sounds like your ducks are in a row, as long as all this is true (FH wants to sell, price agreed, solicitor instructed) then the most likely source of delay is where it sits on both solicitors to do lists.

The transfer of freehold (form TR1 I think) requires a notarised form to be signed, with proof of ID, so make sure the current freeholder is available to do this (i.e. in the country and able to get to a solicitor to notarise it, and send it recorded delivery).

If all of this is in hand then it shouldn't cause too much more of a delay.

Good luck, the hassle is worth having the freehold.

GU24Mum · 02/01/2019 22:12

No need for a notary in the UK for a TR1!

RomanyRoots · 02/01/2019 22:13

Is the lease for sale? My ds has bought full streets of leaseholds, others he has tried and the owner won't sell.
How long is on the lease? It might not be worth buying if you aren't staying.
Ours was 10x how many years we'd lived here, we were notified by a solicitor it was for sale, so we bought it, but were 5 years in.

Original poster
makingithappen · 02/01/2019 22:44

Thanks all. A lot clearer now.

@RomanyRoots it is a 999 year lease from 1936 so most would say it isn't worth buying. However, we had originally discounted it due to it being leasehold and I think others did too. We only viewed it after the EA talked us in to bolting it on to another viewing we were doing in the area. We are also planning on extending it and feel that would be simpler freehold. It isn't the forever house and we want it to appeal to many when we resell. In the grand scheme of housebuying we decided for the price we would just do it.

OP posts: