Buy Your Freehold
Also known as “Collective Enfranchisement”
A group of leaseholders in a building can come together to buy out their freehold as of right. There are a number of qualifying conditions which must be met and if you qualify, you will need to know how much it is going to cost each leaseholder.
Potentially being more complex than a lease extension, there is a different calculation applied to valuing collective enfranchisement cases.
Depending on your circumstances we can provide one of our two main services:
You can call us today to discuss which of our services would be best suited for you. Alternatively if you have any questions, you can fill out our contact form on the right, or chat instantly with us during business hours using the chat facility in the bottom right-hand corner of the screen.
When it comes to collective enfranchisement cases, there must always be a short case-by-case initial discussion. We are usually able to give advice after asking a short number of questions about the property’s location, value and length of the leases.
In addition, we need to establish a few basic pieces of information, such as: are there additional garages? Are there parking spaces or development potential? Establishing facts like these allows us to give best advice.
Where the leases are below 80 years it is important to establish how many leaseholders are going to be participants in the collective enfranchisement. This information is not always certain, especially in the early stages, but it will have an impact on the premium payable by each participant. As such, we have devised a template system so that we can calculate our opinion of the likely share of the premium payable per flat regardless of our knowledge of the participating flats, as we undertake the valuation for each flat as a participant and as a non-participant.
In this way, our reports are flexible and useful no matter what combination of leaseholders participate in the freehold purchase.
We understand that the ‘legalese’ and industry-specific terminology can be confusing. If this section of our site leaves you perplexed, please contact us today by phone or email – or the instant chat widget at the bottom of this page! – and one of our customer service advisors will be happy to answer any questions you may have.
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After two previously aborted attempts we have just completed the extension of the lease on our property in Wimpole Street.
Fortunately this time we asked myleasehold to manage the entire process for us, which proved to be a wise move due to the excellent service and comprehensive level of support.
I cannot recommend myleasehold highly enough.