What Is a Tyneside Lease?
A Tyneside Lease, Otherwise Known as the 'Criss-Cross Scheme' or 'Crossover Lease' Is a Scheme Designed for Developments Where There Are Two Maisonettes in the...
A Tyneside Lease, otherwise known as the 'criss-cross scheme' or 'crossover lease' is a scheme designed for developments where there are two maisonettes in the building. The key feature for a Tyneside Lease is that each owner of the respective maisonettes become the freeholder of the other.
Are Tyneside flats freehold?
When you buy a Tyneside flat you will buy the Leasehold interest in the property you will be living in, and the Freehold interest in the corresponding flat. If you are buying your Tyneside flat with a mortgage then the mortgage will be registered against both the Freehold and Leasehold interests.
Are Tyneside flats converted houses?
During the 1980s and 1990s, a shortage of larger properties in popular areas and the availability of affordable mortgages led to some Tyneside flats being converted into two-storey houses. This is a relatively simple conversion.
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