When buying a propriété we are always asked as to the difference between a freehold and a leasehold property. This is especially applicable to first time acheteurs. In this article we va look at the different types of résidentiel properties you can invest in and potential issues that may arise.
Un bien immobilier peut être en pleine propriété ou en location.
Propriété libre
Un bien immobilier en pleine propriété vous donne la pleine propriété du bien et du terrain sur lequel il se trouve. Il n'y a pas de tiers pour entretenir le bien. Les maisons indépendantes sont généralement en pleine propriété. Ce type de propriété est généralement préféré en raison de l'absence d'implication d'un tiers.
As freehold type properties are the oldest types usually there are old title deeds referred to in the register which refers to covenants that you must comply with i.e. right of ways granted to third parties over the land which your property is situated on. This can also be applicable to leasehold properties.
Biens en location
A leasehold property allows ownership of the property for a fixed period of time i.e. 99 years or 125 years. Leasehold properties were introduced to get more people in the property ladder. Purchase of leasehold properties increased more and more in the construction of flats.
You will have an agreement with your landlord, usually known as the freeholder, called a “lease”. This document will tell you how many years you will own the property. The lease will also contenir rights and obligations which you must comply with. For example, in leasehold flats the freeholder will be responsible for maintaining the common parts of the building i.e. hallways, roof and walls.
There will also be restrictions on what sort of works you will be able to do in the property and prohibition on subletting or owning a pet. When the freeholder intends to carry out work to the Building it will issue you a notice of this and the cost of these works will be covered by you and the rest of the leaseholders through a Major Works statement, payable in instalments. You will be liable to pay for ground rent to the freeholder and service charge for the maintenance of the common areas of the building which the flat is situated in. Please take extra cautions when deciding to purchase leasehold property and make sure your Solicitor explains how ground rent and service charge will be payable as in the recent years we have seen onerous clauses. This can mean that if you are not careful you may be liable to pay ground rent which doubles every 5 to 10 years meaning that you are paying ground rent like rent. Once the ownership of the property comes to an end the property will need to be returned to the landlord. When the lease term is usually in the region of 90-70 years remaining a leaseholder will make an application to the landlord to extend their lease for a premium. In most circumstances, the property is not returned to the landlord and the lease term is extended.
Certains biens immobiliers sont annoncés comme étant une part du titre de propriété. N'en déduisez pas automatiquement que cela vous confère un titre de propriété en pleine propriété. Cela signifie que les propriétaires des propriétés louées ont acheté le titre de propriété au propriétaire et qu'ils en détiennent tous une part. Ils possèdent leur propriété en tant que droit de bail et une part du bâtiment et du terrain qui se trouve sur le droit de propriété. Une fois le titre de propriété acquis, les détenteurs du bail accordent généralement un bail de 999 ans à tous les détenteurs du bail. En général, l'entretien et les réparations de l'immeuble sont pris en charge par les titulaires du bail, qui décident eux-mêmes des réparations à effectuer et les paient à parts égales. Il n'y a donc pas de frais de gestion à payer à la société de gestion.
En outre, vous aurez également une part dans les parties communes de l'immeuble, c'est-à-dire le toit, les murs, les escaliers, le couloir, et vous serez responsable, avec les autres titulaires de baux, de l'entretien de ces parties. En outre, vous devrez assurer votre appartement et les parties communes de l'immeuble.
You may also come across a property that is not registered. It will be compulsory for you to register the property on completion of the transaction. An unregistered property does not mean that there is a problem. It merely means that there has not been a transaction to trigger an application.
The complicated part with unregistered property is that you will need to produce the physical title deeds or if these are lost you will need to provide evidence to the Land Registry explaining why the deeds cannot be produced and the person claiming to be the owner is the true owner. These should not prevent you with purchasing an unregistered property if such opportunity interests you.
When buying a property along with the purchase price you should take into consideration the related costs and these include:
- Honoraires et débours des avocats
- Stamp duty
- Frais de cadastre
- Frais d'hypothèque
- Coûts amovibles
- Estate agent fees (payable by the seller)
- Frais de remise en état et de rénovation
- Frais de gestion immobilière si vous décidez de nommer un administrateur de biens pour gérer votre propriété
Si cela vous semble compliqué, sachez que si vous êtes entre les mains d'un avocat expérimenté et professionnel de l'immobilier, vous n'avez pas à paniquer ou à hésiter lors de l'achat d'un bien immobilier au Royaume-Uni.
If wish to discuss the contents of this article or have any queries, please contact Real Estate solicitor Berivan Erdogan at B.Erdogan@rfblegal.co.uk.
(A noter : This article was originally published on our previous website and is provided for general information purposes only. While it reflects the legal position at the time of writing, the law may have changed since publication. For up-to-date advice tailored to your circumstances, please contact our team.)
