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No leasehold information on flat - dodgy?

Cloo said:
Now we just need to see if they accept our offer (or alternatively, whether Foxtons realise the cellar is there and decide to re-value the place).


My suspicion is that Iguana is likely to be right and the cellar may not be officially yours, which would explain why it is not mentioned on the features.

One little piece of advice with buying freeholds - when doing so, don't forget to extend the lease at the same time! When we bought our place, the previous owners had clubbed together to buy the freehold - so each property has a share of freehold.

This doesn't mean to say there is no lease - you still have a lease even though you ALSO own a % of the freehold. Our lease was down to about 50 years.

Luckily when you are the freeholder it is easy to arrange to extend all the leases to 999 yrs with a peppercorn rent - however it is much less hassley to do this at the time you take over the freehold rather than pay additional legal costs at a later date.

:)
 
Nope, we checked the papers and the cellar is in the lease, but I'm really glad Ig pointed that out, as I wouldn't have thought of it.
 
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