Flying Freehold Indemnity Insurance
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I Bought the Flying Freehold for Cash. Now My Buyer’s Lender Will Not Accept It
A homeowner encountered issues selling a cash-purchased property with a flying freehold above an alleyway. Although an indemnity policy facilitated the purchase, it was not accepted by the buyer’s mortgage lender, highlighting the difference in requirements between cash transactions and mortgage-funded sales. This created complications regarding future mortgageability and marketability.
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Flying Freehold Discovered Too Late: Can You Still Sell or Remortgage?
A flying freehold can remain unnoticed until a homeowner sells or remortgages. We examine why it happens, what lenders may require and what to check about the original purchase.