Chestertons’ specialist leasehold team can help leaseholders buy the freehold of their property.
The legal term for buying the freehold of a leasehold house is 'Leasehold enfranchisement' and the enfranchisement process is legislated by The Leasehold Reform Act 1967. In order to qualify for leasehold enfranchisement, legislation says the leaseholder must have owned the lease for over two years and the lease must have been granted for over 21 years at its start date.
If you own, or are considering purchasing, a leasehold house, Chestertons can advise you on how much it may cost, help you negotiate the price with the freeholder, and guide you through the process.
If you are the leaseholder of an apartment, it is also possible to buy the freehold of your property in conjunction with the other leaseholders in your building. For more information on this, see our ‘Collective Enfranchisement’ page.
To discuss how much it could cost to buy the freehold of your property and what the process is, please contact our Leasehold Team.