2 bed flat for sale
Tenure
Knowing the tenure of the property is important because it affects your rights to use the property and the costs of ownership.
Freehold means you’ll own the property and the land it's built on. You'll usually be responsible for the maintenance of the property and have more freedom to alter it.
For flats and maisonettes, the freehold is sometimes shared with other properties in the same building. This is known as a share of freehold.
Leasehold means you'll have the right to live in the home for a set amount of years (specified in the lease). The landlord (the freeholder) owns the land, and if the lease runs out, ownership of the property will go back to them. Lease lengths that are less than 80 years tend to be more complicated and can cause issues with mortgage lenders.
You can extend a lease but this can be expensive. If you'd like to make changes to the property, you'll likely need the landlord’s permission. You're also likely to have to pay an annual amount for ground rent and services charges which can be subject to change. It is good practice to check additional leasehold costs that will apply to the property and factor this into your budget considerations.
Shared ownership is a form of leasehold in which you buy a percentage of the property and pay rent on the share you do not own. You may be able to buy the remaining share at an extra cost. When you wish to sell the property, you may need permission to do so.
Commonhold is a type of freehold ownership for a property that's within a development. A commonhold or residents’ association owns and manages the common parts of the property (like stairs and hallways). You'll need to join the commonhold association and contribute towards maintaining the development. It is good practice to check additional costs that will apply to the property and factor this into your budget considerations.
Features and description
- Leasehold
- Two Bedrooms
- Large Terrace
- Centrally Located
- No Chain
- Perfect Investment
- Modern
A spacious two bedroom apartment perfectly located in Nottingham City Centre. Boasting open plan living, allocated parking and a large paved terrace. On entry you are welcomed by an entrance hall leading to the bathroom, two bedrooms and the open plan living kitchen dining room with integrated appliances and access to the large private terrace. No chain. Tenant in situ.
Call now on to book your viewing today.
**Opportunity to many multiple in the block**
A two bedroom apartment enjoying outdoor space.<br /><br />
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