Problem Property
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Absent Freeholder: What Did Your Mortgage Lender Require When You Bought?
Historical lender requirements for an absent freeholder can matter when a flat becomes difficult to sell or remortgage. The original purchase may have completed with a mortgage and an indemnity policy. Years later, a buyer’s lender asks questions that nobody can answer. Why did the first lender proceed? Was the freeholder already missing? What was…
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Trapped by a leasehold property: what might you have wanted to know before buying?
A leasehold problem may not become obvious when you buy. You may pay the service charge, keep up with the ground rent and live in the property for years without difficulty. The problem can surface later, when you try to sell or remortgage and a buyer, conveyancer, valuer or lender looks closely at the lease.…