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Freehold purchase

We can assist you in the purchase of your freehold whether the property is a house, maisonette or flat. We can also act for you individually or collectively in a group with other flat owners. If your property is a flat then once you purchase the freehold, you are free to grant yourself a lease extension for free.

Procedure

You can approach your freehold owner informally and try to agree a price.  However, if you are a block of flats then he will have an obligation to offer the freehold to all of the flat owners in the block.

There is also the option to exercise your right to purchase the freehold under Leasehold Reform and Urban Development act 1993.  You can do so whether your property is a house or flat.  Different qualifying criteria and procedures apply for each.  Please contact us for a detailed explanation of the procedures involved in your case.

In any of the above we would recommend that you speak to a specialist valuer for advice on the premium to be paid.  We can help put you in touch with a valuer.

Pros+
  • You have control of the finances and choices on tradesmen and insurances.
  • You can extend the term of your lease for free!
  • Ground rent can become nil
  • Adding value to your property
Cons+
  • It takes a long time
  • It can be costly
  • You may have to rely on neighbours co-operating if you are collectively buying
  • There will be work to do to set up a freehold company, accounts, insurances etc. somebody must be happy to take on the administration involved

Fees

Our legal fees will differ depending on your exact circumstances. Please contact us for a full quotation based on your case.

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Have a question or need some help? Call us today on 01905 401 893

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