What is a flying freehold?
A flying freehold is a part of one client’s property which overhangs or is affected by someone’s else’s property or land contained in separate titles.
- Some lenders do not accept a flying freehold so it is necessary to check the lender’s requirements at the outset.
- It is necessary to identify on a plan the part of the property that is affected by the flying freehold.
- If the lender is prepared to accept a title that includes a flying freehold then the following must be checked and obtained by the solicitor:-
- The property must have all necessary rights of support and protection
- Entry for repair
- A scheme of enforceable covenants which must include a provisions that all subsequent buyers enter into an identical form of the covenants.
- Certify that the title is good and marketable
- If the above requirements are not fulfilled then some lenders will accept indemnity insurance.
- Please note that you can also have freehold flats aswell so for more information please contact Kulbir Conner here.