FabSwingers.com forum: Shared freehold

By *innie The Minx OP Woman
over a year ago

Under the Duvet

Serious question for Tues morning...

What are the advantages ,in your experience ,of the share of the freehold on a flat?

Worth having?

Thanks helpful peeps.

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By *edmark07Man
over a year ago

liverpool

Minie my advice would be seek professional advice, I would trust what you'll here on a fab forum

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By *innie The Minx OP Woman
over a year ago

Under the Duvet

"Minie my advice would be seek professional advice, I would trust what you'll here on a fab forum "

Of course I will do that also, I'm interested to see what other peoples experiences of this are too.

Thanks

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By *ingle Beds LassWoman
over a year ago

Bedfordshire

So many dependencies..

How many flats

Condition of roof

Co-operation of others when it comes to paying monthly fee

It can be a minefield... but also a release from having no control over landlords desire or lack of desire to maintain building...

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By *partharmonyCouple
over a year ago

Ruislip

In my experience, the best situation is when the tenants' association owns the freehold entirely and all tenants pay their share to buy it according to the floorspace of their flat.

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By *innie The Minx OP Woman
over a year ago

Under the Duvet

Thanks all, someone else mentioned checking state of roof. Looks ok but is grade 2 listed also.

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By *ingle Beds LassWoman
over a year ago

Bedfordshire

I would love to buy the freehold of my flat, but the other 2 (3rd one being council so not needed) are not interested... we were just charged £20k each for major works.... one being the roof...

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By *innie The Minx OP Woman
over a year ago

Under the Duvet

"I would love to buy the freehold of my flat, but the other 2 (3rd one being council so not needed) are not interested... we were just charged £20k each for major works.... one being the roof... "

Ouch ! How does that work if theres no sinking fund? Do you have to cough up immediately or what?

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By *uzzy NavelWoman
over a year ago

so near and yet so far....

I bought the freehold of my property in Nottingham, it had been converted into 4 flats, so as we all were owners we bought the freehold for £1000, pay 100 a month to cover any issues, so far so good.

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By *ingle Beds LassWoman
over a year ago

Bedfordshire

"I would love to buy the freehold of my flat, but the other 2 (3rd one being council so not needed) are not interested... we were just charged £20k each for major works.... one being the roof...

Ouch ! How does that work if theres no sinking fund? Do you have to cough up immediately or what?"

3 options...

Pay lump sum 5% discount

3 years interest free instalments

Put a charge on the property

Wound me up having to contribute to the balconies when I'm ground floor... alas, that's what it's all about... I would never buy a flat again...

Anyone wanna buy a flat?!?!?

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By *innie The Minx OP Woman
over a year ago

Under the Duvet

"I would love to buy the freehold of my flat, but the other 2 (3rd one being council so not needed) are not interested... we were just charged £20k each for major works.... one being the roof...

Ouch ! How does that work if theres no sinking fund? Do you have to cough up immediately or what?

3 options...

Pay lump sum 5% discount

3 years interest free instalments

Put a charge on the property

Wound me up having to contribute to the balconies when I'm ground floor... alas, that's what it's all about... I would never buy a flat again...

Anyone wanna buy a flat?!?!?

That's useful to know, thanks for that.

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By *ingle Beds LassWoman
over a year ago

Bedfordshire

"I would love to buy the freehold of my flat, but the other 2 (3rd one being council so not needed) are not interested... we were just charged £20k each for major works.... one being the roof...

Ouch ! How does that work if theres no sinking fund? Do you have to cough up immediately or what?

3 options...

Pay lump sum 5% discount

3 years interest free instalments

Put a charge on the property

Wound me up having to contribute to the balconies when I'm ground floor... alas, that's what it's all about... I would never buy a flat again...

Anyone wanna buy a flat?!?!?

That's useful to know, thanks for that.

My landlord is the council/Housing association, so can afford to be more flexible

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