Hi there,
My wife and I are new to the this house buying thing - Having been saving for a year we have enough for a deposit and have been preaproved - We spent the weekend looking at open homes from Titirangi to Glenfield and found some we like and some we don't!
We've managed to get our heads around some of the legal jargon in the titles we've seen we're still quite confused about the crosslease/freehold/leasehold thing - we don't want a leasehold property but it looks like sometimes the title has leasehold on it when it's a crosslease... is that the case? We also saw a title for a leasehold property that was for 989 years and we set at 10c per year - which seems odd if the idea behind leasehold titles is to make money from the owner of the house.
It's quite hard when you're new to the house buying game because there aren't many people to ask these sorts of things so I appreciate you taking the time to read and (hopefully) reply!
Thanks!
My wife and I are new to the this house buying thing - Having been saving for a year we have enough for a deposit and have been preaproved - We spent the weekend looking at open homes from Titirangi to Glenfield and found some we like and some we don't!
We've managed to get our heads around some of the legal jargon in the titles we've seen we're still quite confused about the crosslease/freehold/leasehold thing - we don't want a leasehold property but it looks like sometimes the title has leasehold on it when it's a crosslease... is that the case? We also saw a title for a leasehold property that was for 989 years and we set at 10c per year - which seems odd if the idea behind leasehold titles is to make money from the owner of the house.
It's quite hard when you're new to the house buying game because there aren't many people to ask these sorts of things so I appreciate you taking the time to read and (hopefully) reply!
Thanks!
Comment