How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Aston Lawyer Your Own Question
Aston Lawyer
Aston Lawyer, Solicitor
Category: Property Law
Satisfied Customers: 10740
Experience:  LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
Type Your Property Law Question Here...
Aston Lawyer is online now

My son owns 2 flats. He lives in one and hubby and I live in

This answer was rated:

My son owns 2 flats. He lives in one and hubby and I live in the other. (one flat is above the other) He wants to sell his upper flat and live with us but as the flats are freehold, although the sale of one would pay off his mortgage, he needs to re-mortgage to extend the lower flat to enable us all to live with space! he is finding it difficult to find a new mortgage with freehold - is it possible to convert flats to leasehold to make it easier?

Hi, as your Son has found out, most Mortgage Lenders won't grant a Mortgage over a Freehold Flat. You need to convert the downstairs Flat to Leasehold, by granting a Lease (I would suggest a term of 999 years). However, a Freeholder can't grant themselves a Lease, so your Son, as Freeholder, would have to grant a Lease of downstairs to himself plus 1 or 2 other people (I would suggest yourself or your Husband). This of course needs to be done before he sells the upstairs Flat, as the Lease for downstairs has to include rights over the whole of the building (eg rights of support). A local Conveyancing Solicitor will be able to advise your Son fully. I hope this assists and sets out the legal position. If so, please don't forget to rate my answer. Kind Regards Al

Aston Lawyer and other Property Law Specialists are ready to help you