Absent Freeholder: Selling or Remortgaging
An absent freeholder can create problems when selling or remortgaging a leasehold flat. A buyer’s solicitor or mortgage lender may raise questions about ground rent, buildings insurance, repairs or obtaining consent under the lease.
These articles explore the difficulties owners can face, the role and limitations of indemnity insurance, and why mortgage lender requirements matter. If the problem existed when you bought, your original conveyancing file and the lender’s instructions at the time may help explain how the purchase proceeded and what advice you received.
Absent freeholder?
Find out what you were told when you bought
If the freeholder was already missing when you purchased, your original conveyancing file and your lender’s requirements at the time could show whether the issue should have been picked up and what advice you received.
-
Why are leasehold garages delaying my house remortgage?
Remortgaging a freehold house can be complicated when associated garages are leasehold and the freeholder is unresponsive. This can hinder obtaining essential information about insurance and maintenance obligations required by lenders. Both owners and conveyancers must assess the situation carefully to facilitate the remortgage process and address potential issues with the lease.
-
How to Find a Missing Freeholder
A missing freeholder can hinder leaseholders from obtaining management packs and extending leases, especially during sales or remortgages. Determining the freeholder’s status is crucial, involving searches and documentation. If inaccessible, leaseholders may explore statutory options or indemnity policies, while well-documented efforts to trace the freeholder are essential for legal processes.