Lease Hold Free Hold
Most properties are built on lease Hold Land or you are allowed to purchase the freehold, which is to your advantage when considering selling at a later date because every property conveyance is administered by a solicitor providing his or her staff carry out the conveyance without the solicitor meeting the purchaser.
However, the leasehold land usually belongs to a church and not for sales so you pay leasehold rent every year of about £120 but all church land is leasehold and some 100-year leases can be renewed for a further 100 years to a new property owner. Furthermore, as land is owned by the church if damage to the church is serious all leaseholders would be liable collectively to repair the damage so at the point of sale a solicitor dealing with property purchase will advise and offer a one-off insurance policy to cover any potential damage to the church for about £150.
Furthermore, as some church spires, are over 900 years old, timber within them may be ready to cause a spire to crash through the church roof when it is a windy day and that’s when leaseholders would be expected to pay for any damage caused which could be many thousands of pounds.
My most Recent House Purchase.
In 2003 I sold our home and went to live for a short time with my sister-in-law. But we only stayed there until purchasing a two-bed bungalow located at Icknield Court Bidford on Avon. However, we moved in after purchase based on a shared ownership scheme via an orbit housing association who held 30% of its value and we owned 70% but we only remained at Icknield court until 2008 because my wife insisted we solid up and move back to her sister then shortly after my wife and I divorced during 2010 which was declared Obsolute January 29011.