Freeholder vanished - can I still get a mortgage?

Why don't all the leasholders club to gether and refuse to pay the annual ground rent. Surely under such circumstances the freeholder won't remain incognito for long.

Just a thought

RM

There are just two flats, ie upstairs and downstairs of a decent-size house.

I've been told the cheques for last years fees were never cashed.

Though, that's the seller telling me that. I think I will drop a letter through the door of the downstairs flat.

In message , Joseph Hill writes

I'm not sure why it matters if the freeholder cannot be located. There should be a management company which collects a service charge and organises insurance, cleaning and repairs.

If there is no management company, and the freeholder took care of such things, there may be a problem as suggested.

Depends on the effect of his absence - which may be none. Ask if there is a management company, (which could be run by the leaseholders).

So why didnt you tell them and see how they respond?

First thing to do is ask them.

Yep!!

If you cant get a mortgage, it makes no difference whether he deals with the agent or not - you wont be able to buy it.

How odd, my parents bought a place with an absentee freeholder many years ago. There was no problem obtaining a mortgage and when, much later, a solicitor contacted them to say that he was representing the family of the deceased freeholder, they were offered the chance to buy the freehold for peanuts.

In message , Joseph Hill writes

Aha! This kind of arrangement with only a few flats and no formal management arrangement are a can of worms. Personally I wouldnt touch it with a bargepole as the same fears will probably arise when you want to sell.

Daft question , but how would you know if its mortgage free ? could he be paying for something that should not be sold etc ? just wondering.

Make sure to tell them you only just found out, because if they think you didn't tell them even though you knew, they'll probably refuse you for not having told them in the first place, just like insurance isn't valid if you didn't tell the insurer about some material fact when you take out the policy (or when you discover the fact later).

Yes, they do, but that doesn't automatically mean the lenders are going to make it easy to buy a leasehold property where the freeholder has done one of those things.

Look at the charges registered at the Land Registry.