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Buachaill, Barrister
Category: Law
Satisfied Customers: 10976
Experience:  Barrister 17 years experience
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I own 2 flats, 1 on the upper floors and 1 on the ground floor.I

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I own 2 flats, 1 on the upper floors and 1 on the ground floor.
I want to put a buy to let mortgage on the both.
The mortgage company require me to be the 999 lease holder and freeholder, is this ok with land registry.
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Customer: replied 2 years ago.
I was promised an answer within 24hr, not impressed.
I have paid £38 for a full answer, so I can wait another 48hr, until I contact my own solicitor.
James Lethaby
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1. Dear *****, I regret to say that if you want to both hold the 999 year leasehold interest and the freehold interest in the properties, then you will have to get two different parties to hold them. This is because if you attempt to hold both of them yourself, they will "merge" in one another and the land Registry will only register the highest interest - the freehold - in you. So if you attempt to register both the freehold and the 999 leasehold interest in yourself, you will be stymied in the Land Registry. So instead, you need to introduce some other interest, such as a company holder of the freehold in order that you may hold both interests. Alternatively, you could hold the freehold on joint tenancy with another person. However, you could also use a nominee for one interest as this would also solve the problem. However, you wont be able to hold both in the Land Registry, I regret to say.
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Buachaill, Barrister
Category: Law
Satisfied Customers: 10976
Experience: Barrister 17 years experience
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Customer: replied 2 years ago.
Good MorningAre you saying that I could have myself and my wife as Freeholder and Lease holder instead of just one person.thanksJames
3. Dear *****, having yourself and your wife as freeholder and leaseholder would be perfectly acceptable as then the interests would be held by different people and registrable in the Land Registry without difficulty.
Customer: replied 2 years ago.
So myself and my wife can be the freeholder and also both the leaseholder ?
or are you meaning one can be freeholder and one leaseholder.
4. Dear *****, one of you should be freeholder and the other leaseholder. In that way both interests can be registered in the Land Registry
Customer: replied 2 years ago.
Sorry to be a pain.
I' am trying to get a buy to let mortgage on 2 flats which I own the freehold.
Birmingham Midshires stipulate the lease holder and the freehold have to be the same named persons.
So if myself and wife together own the freehold, can we also be lease holders together, to satisfy their requirements.
many thanks
Customer: replied 2 years ago.
Many thanks for your help.
Will use your services again, when required
5. Dear *****, you can own the leasehold and your wife can own the freehold but you cannot both together own nboth as then the land registry will register you as freehold owners. so what Birmingham Midshires is wanting is impossible in the land Registry, as they only register the best interest possible.