If you are living in a flat as a tenant and you are looking to purchase the freehold, we can help you consider the options and guide you through your purchase.
One of the main benefits for tenants in acquiring the freehold is to be able to vary a lease and, importantly, extend the number of years remaining. In general, the shorter the lease, the more this reduces the market value of your flat. A short term lease can deter potential buyers or encourage them to offer less for the property. Equally, with short leases, lenders may be deterred from taking the property as security for a loan.
The first step is to determine whether your lease qualifies for collective enfranchisement, that is the collective purchase of a block of flats alongside other tenants, and we will examine your lease and advise you accordingly. We’ll liaise with the freeholder, other leaseholders and the lender and help you to take control over the way your flat is managed as well as achieve a good freehold price.
Our services to you:
|Purchase the freehold||Company formation|
|Lease extensions||Financial advice (including buildings insurance)|