I have just recieved a survey on a terraced house in walkey and it states it is leasehold. is this normal for this area? i thought leasehold were usually for flats. Obviously it may affect being able to resell it so we don't really want to go ahead if its going to be a real hassle in the future! Anyone else come across this?? Is it something to worry about?!

Many houses in Sheffield are Leasehold and the annual fees are usually very small like £5-£10!

You can apply to buy the Freehold and it would be an ideal opportunity to do this when the sale is going through etc

We bought ours for £400 during the purchase of the house, the annual fee was only £5 but you get the money back as the overall value of the house will go up to reflect this.

Good Luck

perfectly normal, our leasehold is for about another 920 years and costs £2.30/yr.

Thanks for the info. i have just done a search on the forum and found a very long thread about problems with leasehold which people should read - very informative! Shiesh, can i ask how long ago it was you bought your freehold? and how many years were left on it?

We bought our freehold in 1997 during the process of buying the actual house. I am sure the company who held ours was called something like ''Freehold Managers PLC' based down south. We encountered no problems and our solicitors dealing with the purchase of the property at the time arranged everything for us at very little additional cost. There was well over 100 years left on the lease at the time!

Hope this helps.