Absent freeholder
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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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The Lease Restriction That Cost a Homeowner Their Sale
A leasehold owner spent months trying to sell a flat before the buyer’s buy to let mortgage offer was withdrawn. The decisive problem was not the condition of the flat or the agreed price. The lease prohibited letting. The proposed buyer needed a mortgage for a property that would be rented out. Once the restriction…