Are there any disadvantages to buying a flat with share of freehold?
Unfortunately yes – with all flat owners in the building sharing the freehold, there is no formal relationship between you and the other owners. So, eg, if your upstairs neighbour decides to put in wooden flooring and you’ve got concerns about possible noise, or if another neighbour decides to keep dangerous animals in their home, with leasehold you would have formal means of stopping them from doing that, but with share of freehold you don’t, do you’d basically be relying on the goodwill of your neighbours. It may be possible though to convert the tenure into leasehold if all parties agree, so perhaps something worth investigating before you put in an offer?
