Enfranchisement or Freehold Purchase
Did you know that as an alternative to a lease extension or Right To Manage, if you and your fellow leaseholders qualify, you could purchase the freehold and management of your block and estate.
The value is worked out by a surveyor and is based on the ages of the leases, the size of the development and various other factors based around ground rent income. If you think you qualify or you want to discuss this option, Contact Us so we can introduce you to our legal team and start the process.
Often the cost of a lease extension is comparable to your share to buy the freehold, as long as your fellow leaseholders join in as well. There is a minimum number of qualifying leaseholders required to trigger the forced sale, so you will need to ensure there is real appetite and rough costings. We can help you with this from the initial discussions through to the completion of the purchase, we work with local valuation surveyors and solicitors and together we can provide full support.
CLICK HERE to find a brief guide on ‘Collective Enfranchisement (Freehold Purchase)’