Freehold Flat

[Esmeralda67]

I have had an offer accepted on a lovely freehold flat. I am a cash buyer. However I am told they can be impossible to re sell in the future because mortgage companies won't lend on them. I simply don't know what to do. Do I walk away, even though I love it and it seems ideal for me, or do I risk being stuck with an unsaleable property in the future? Clearly some people must buy them as the others in the block are all occupied and the grounds and gardens look immaculate.

Im guessing you are a FTB?

OP whomever told you that is talking out their bottom.

Check zoopla for sale history and of the either flats in the block

you will see they sell! Freehold flats are the ideal! Leasehold flats less so but still very sellable generally

Do you mean share of freehold? Actual freehold would be impossible for a block of flats, surely.

Not a first time buyer, but downsizing post divorce. It is my solicitors who have advised against the purchase. I have been asked to sign a waiver saying I am buying against advice. The survey found no problems at all worth mentioning. I dread staring this whole process again.

If there is an individual freehold for each flat, it can cause problems in any communal areas e.g. what does the solicitor say the problem is?

Freehold flats are stacked on top of each other so the flat on top or underneath you had no obligation to maintain their property (unlike a leaseholder) so if anything goes wrong with their floor e.g. that could affect your ceiling. That's why lenders don't like them.

I understand that you cannot enforce repairs on your neighbours but that is the case in a house too. I currently live in a terraced house and when my neighbour had a damaged gutter that dripped into an upstairs room I had to ask them to have it repaired. Had they refused I couldn't enforce it.