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.
Council tax band (England, Scotland, Wales)
Council tax is payable on all domestic properties. The amount you pay depends on the tax band. You can check the charges for each tax band online via the following websites:
England and Wales - https://www.gov.uk/council-tax-bands
Scotland - https://www.saa.gov.uk
You may have personal circumstances that mean that you pay a reduced rate. You can get more information from the local council.
- Terraced houses
We are delighted to present you with this deceptively spacious, well presented and ideally situated Two Bedroom End-Terraced home.
Boasting spacious accommodation, perfect for a range of buyers... This property is not to be missed. Located on a large plot, the property is within close proximity to a range of shops, popular schools and walking distance into Nottingham City Centre.
Briefly, this great home comprises: Welcoming Entrance Hall, Spacious Lounge, Large Kitchen, Dining Room, Utility Area/Downstairs W/C, Two Spacious Double Bedrooms, Large Cellar and Lovely Family Bathroom.
Outside, is a single Driveway to the front and an Enclosed and Extensive Garden to the rear.
Must be viewed to truly appreciate!
Property Ownership Information
Tenure
Freehold
Council Tax Band
A
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