theForum

Cash buying a leasehold property with an unspent conviction


https://forum.unlock.org.uk/Topic32129.aspx

By Dave Lister - 10 Jan 22 8:25 PM

As title, is there likely to be a problem with this? Smallprint in the leasehold agreement for example? 
By JASB - 13 Jan 22 2:21 PM

Dave Lister - 10 Jan 22 8:25 PM
As title, is there likely to be a problem with this? Smallprint in the leasehold agreement for example? 

Hi
My experience with buying leasehold is once when I was going to buy a flat. Everything looked great i.e. no disclosure but then in the agreement the clause surrounding "building insurance" which the "freeholder" is responsible for, stated that the "freeholder" had to be informed of any convictions as they may affect the "building insurance". 

As I was going to rent it out at a future date I contacted a lawyer for advice and they stated there possibly would be issues surrounding whether those tenants would have to disclose. I couldn't get the issue resolved to my comfort so I did not buy the flat.

Hope this helps.