The right to buy the freehold of a block of flats from your landlord
Why buy the freehold?
- To control the management of the block collectively.
- To extend your lease to 999 years.
- Leases can then be sold and advertised as having a "share of freehold."
- To remove the requirement to pay rent to a landlord.
What are the basic qualifying criteria?
- It must be a self-contained building; and
- not more than 25% of the building is commercial/non-residential; and
- the total number of flats held by those tenant is not less than two-thirds of the total number of flats; and
- not less than 50% of the total number of flats participate at the relevant date with a minimum of two participants.
What will it cost?
- Please call to discuss.
How long will the process take?
- see table below.