Selling a house with a flying freehold can be tough, but good news is that you can sell your property using our We Buy Any House service. In this blog we cover:
- What is a flying freehold?
- What is the problem with selling a house with flying freehold?
- Flying freehold mortgage issues
- What is the solution to selling a property with a flying freehold?
Table of Contents
What is a flying freehold?
If your property has a flying freehold, it means it lies over or under a part of another freehold property. Who owns the land under a flying freehold?
To simplify, your living room could be beneath one of next door’s bedrooms, or part of your house might sit over your neighbour’s garage. With a flying freehold, loft space or a shared alleyway could also cause the issue. Most flying freehold properties tend to be terraced houses. Often, flying freehold is not on title deeds, which means that a buyer cannot get a mortgage.
If this is the case, an estate agent will tell you that the value of your property may decrease or it is unlikely to sell – which can cause you to panic.
Since 2009, banks have become very reluctant to lend against any property they deem problematic, including those with flying freeholds.
What is the problem with selling a house with a flying freehold?
There are several problems which can arise when your home has a flying freehold. This is because neither you nor the owners of the neighbouring property are legally obliged to maintain your property or carry out repairs. As a result, any failure to maintain one property can impact the other.
If your neighbour had a leaking roof, this would put your property at risk – yet the neighbour is under no obligation to repair it as your house has a flying freehold.
Can you see how this can be problematic and put potential buyers off?
Flying freehold properties become problematic when it comes to repairs. Let us say you had a roof leak, and your neighbour refuses to give you access to assess the damage. It can lead to expensive legal disputes. Once you have a dispute with a neighbour, you must declare it should you wish to sell the property.
Potential buyers do not want to deal with the drama, especially when their home is at risk.
A potential buyer’s conveyancing solicitor will also want to know whether there are access rights to your neighbour’s part of the flying freehold to be sure that future repairs will not lead to disputes. If there are no access rights, they are likely to tell the seller to look elsewhere.
We know this is not great news, but thankfully, at Property Saviour, we have years of experience of dealing with sellers who own properties with flying freeholds. We can take the weight off your mind, and unlike estate agents, we will offer you a fair price for your home because we care.
Flying freehold mortgage issues
To make things worse, mortgage lenders often refuse to lend against a property with a flying freehold. This makes your property even less likely to sell through an estate agent, even if they put it on the market.
It will not only cost you money in estate agent fees, but you could be waiting years before you get a buyer, which is not ideal if you want a quick sale.
What is the solution to selling a property with a flying freehold?
Before you give up, we suggest giving our experts a call. As it is unlikely you’ll be successful in selling your flying freelance home via an estate agent, you’ll need to explore your alternative options.
At Property Saviour, we buy any home. We do not buy on behalf of investors, and we offer an honest price because we want you to get the best value for your home.
We will not charge you any hefty fees – we will even pay the legal fees. Why? Because we know you have been through the mill with your property, and we want to help you where we can.
You can give us a call and let us guide you through our house-buying process or make an enquiry and find out more about the service we offer.
Sell with certainty & speed
Property Saviour Price Promise
- The price we’ll offer is the price that you will receive with no hidden deductions.
- Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
- These valuations or surveys result in delays and price reductions later on.
- We are cash buyers. There are no surveys.
- We always provide proof of funds with every formal offer issued.
We'll Pay £1,500 Towards Your Legal Fees
- No long exclusivity agreement to sign because we are the buyers.
- You are welcome to use your own solicitor.
- If you don’t have one, we can ask our solicitors for recommendations.
- We share our solicitor’s details and issue a Memorandum of Sale.
Sell With Certainty & Speed
- Our approach is transparent and ethical, which is why sellers trust us.
- 100% Discretion guaranteed.
- If you have another buyer, you can put us in a contracts race to see who completes first.
- Complete in 10 days or at a timescale that works for you. You are in control.
