- Flying Freeholds
- From 5% Deposit
- To 100% Flying Freehold
- Residential & Buy to Let
- Common Sense Underwriting
- Interest Only and Repayment
- No maximum age for residential & buy to let mortgages
Flying Freehold Mortgages
A property with a “flying freehold” is essentially where part of the property hangs over (or flies over) another property. A typical example of a flying freehold property would be a coach house, where the upper floor is built over an archway which contains a drive to other properties shared by other residents.
Flying freehold properties can vary in the amount of floorspace that hangs over another property – known as the “flying” element. When considering a mortgage for a flying freehold house it is important to find out the approximate percentage of the property floorspace that is “flying” e.g. 20% flying freehold would indicate that 20% of the property is hanging over another property.
Clients tell us that some lenders will not consider flying freehold properties full stop, while others will consider them – but only up to a specified percentage of flying floorspace e.g. 10% and then others will consider up to 100% flying freehold properties subject to the comments of the valuer who visits the property to assess if it is suitable for a mortgage or not.Read More >>
We are told that some lenders are not keen to provide mortgages or remortgages for flying freehold properties due to the possible legal complications regarding who is responsible for the property below the “flying” freehold portion of a property.
At RockHopper we can look to assist clients wishing to find a mortgage for a flying freehold house or flat.
We appreciate everyone’s particular situation is unique, which is why we look at every enquiry on a case by case basis.
If you would like to see whether we can help you raise a mortgage on a flying freehold property, do get in touch for a free no obligation quotation.