Purchase of leasehold property.

[DirectDevil]

In Dublin many houses still have leasehold titles i.e. you pay ground rent annually.

Would the presence of a leasehold title make any difference to the attitude of a mortgage provider in deciding whether or not to give you finance ?

I know that you can buy out the fee simple interest and convert the title to freehold. However, I am thinking of the specific situation where you are looking for finance to buy a property with the leasehold title still in place at time of purchase.

 

[Leo]

I had no problem in 2003, can't say if anything has changed since then though.

 

[cremeegg]

It depends entirely on how long is left on the lease and if there any onerous covenants in it.

 

[mf1]

"A leasehold title is considered good marketable title and will be accepted by the banks provided there is 70 years to run. "

In a nutshell.

mf