Long Leasehold - Crossover Lease

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    Long Leasehold - Crossover Lease

    TWO QUESTIONS

    (1)

    If you buy a leasehold flat, who is responsible for "energy efficiency" - the Freeholder or Lessee?

    When you come to sell on that flat, you get an EPC - obviously a rating of B would be more attractive than a D - but who legally maintains the loft insulation thickness, the heating method etc?

    (2)

    I am looking at a property with a Crossover Lease - something I'd never heard of but is pretty common around Tyneside apparently (and the Lease type often shares that locality name in it)

    There are 2 flats - the top floor flat owns the freehold to the ground floor flat and the ground floor flat owns the freehold to the top flat - and each has a 9999 year lease on the other (so top floor is given a long lease by ground floor and vice-versa).

    There isn't any management company and the two flats are expected to share in maintenance costs for the upkeep of the buildings structure - how easy is it to actually get two parties who may not get along (or just one of them not having any money) to jointly get works done?

    Alarm bells tell me to stay well clear BUT this arrangement appears to be quite common - and mortgage companies are aware of the setup and would lend if needed.

    #2
    I pass on question (1).

    Question (2) does rather assume that all the other ways in which the leasehold and freehold interests relate to each are trouble free. That is certainly not the case. In the end, it all comes down to whether people are reasonable and willing to pay their way. Tyneside leases are no better or worse than any other arrangement, although they do have the benefit that the owners and no one else is in control.

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