Advantages and Disadvantages of Buying a Flying Freehold
Before proceeding with exchange of contracts, homebuyers should weigh the tangible benefits against the legal complexities:
Advantages:
• Character & Architectural Charm: Flying freeholds often feature in picturesque period properties, coaching inns, and historic town centres.
• More Living Space: Rooms over carriage arches or shared alleyways provide bonus square footage at lower price-per-square-metre rates.
• Negotiating Leverage: You can often negotiate £5,000 to £15,000 off the asking price to reflect the title defect.
Disadvantages:
• Inability to Compel Repairs: You cannot force your neighbour to repair their roof or supporting ground floor under common law.
• Narrower Buyer Pool on Resale: When you come to sell, cash buyers or buyers with lenders like Halifax will proceed, but applicants with restrictive lenders will drop out.
• Insurance Complexity: Some building insurers impose higher excesses or require specialist party-floor underwriting.
| Overhang Extent | Typical Feature | Lender Viability | Recommended Homebuyer Action |
|---|---|---|---|
| Minor (< 10%) | Single bedroom corner over passage | High (90%+ lenders accept) | Proceed with standard £150 indemnity policy |
| Moderate (10% – 20%) | Entire bedroom over neighbour lounge | Medium (Major banks accept) | RICS Level 3 survey + comprehensive indemnity |
| Substantial (20% – 35%) | Multiple rooms over ground floor | Restricted (Specialist lenders) | Negotiate 5%–10% purchase discount; check deeds |
| Severe (> 35%) | Half the house floating over neighbour | Very Difficult (Cash buyers) | Seek formal long-leasehold restructure or walk away |
RICS Level 3 Building Survey Inspection Focus
A basic RICS Level 2 Homebuyer Survey is insufficient for a flying freehold.
You must commission a RICS Level 3 Full Building Survey. The surveyor must inspect the load-bearing party walls, test the floor deflection on the overhanging section, and check for dampness or timber rot in the shared structural joists.