If you are looking to purchase or re-mortgage a freehold flat, we have access to lenders who will consider this type of mortgage.

A common misunderstanding is that people believe they are buying a freehold flat when infact they are purchasing a leasehold flat with a share of the freehold held in a management company. We can also provide mortgages on this type of property. If you are unsure of what type of flat you are purchasing, please ask your estate agent or the vendor for full clarification.

Freehold Flat Mortgages

With a freehold flat you have full rights to ownership of the property as opposed to a limited number of years associated with a leasehold flat. However, in most cases with leasehold flats, this term of residency can / will be extended by the relevant management company to ensure the lease doesn’t run out or fall below 75 years.

Useful points to consider before purchasing a freehold flat:

  • There are a limited number of lenders available who provide mortgages on freehold flats. For this reason it may restrict the number or people who are able / willing to purchase the property, thereby affecting future saleability and market value of the property
  • Maintenance costs will need to be shared amongst the freeholders. This can often cause conflict amongst residents with certain repairs / costs not always being resolved due to unclear parameters of liability. Areas of conflict can include covering the cost of roof repairs, damage to guttering or fencing and repairs to driveways or external walls. The employment of a management company can often help to alleviate potential issues.
  • If damage is caused to your flat via water leakage or fire damage from a surrounding flat, they may not always have sufficient insurance in place to cover the cost of damages to your property. It is important that neighbours communicate with one another on their insurance cover to ensure they are adequately protected.
  • Unlike leasehold flats, you do not have to adhere to terms of a lease or be subject to restrictions. Types of restrictions which are usually imposed by leasehold flats include the exclusion of pets, regular painting of internal walls or limitations on the use of colour, style of blinds and curtains to be used in your flat, maintenance to window panes and frames. Although you have more freedom with a freehold flat, these restrictions are often welcomed my most residents as it protects the overall look of the property.

Before committing yourself to purchase a freehold flat, it is strongly recommended that you employ the services of a solicitor to check over the terms of the freehold and establish areas of liability and the freedom of residents to use the surrounding land.

If you are ready to proceed with the purchase / re-mortgage of a freehold flat, please contact us and we will gladly assist you further.

For further information please contact us on

FREEPHONE 0800 587 4229, request a call back,

email, or complete an online enquiry form

The overall cost for comparison is 3.7% APR

The actual rate available depends upon your circumstances.

Ask for a personalised illustration. APR variable and based on a typical case