Pros and Cons of Buying the Freehold
By Nicholas Kissen, Senior Legal Adviser This article originally appeared in Flat Living magazine, Winter 2011 It was not until...
Sara D owns a flat in Lambeth. The leaseholders in her building are unhappy with the freeholder, and are thinking about buying the freehold. Ms D contacted LEASE by phone and spoke to a LEASE adviser. The adviser informed Ms D that she could get a very rough idea of the cost of the freehold by using the free lease extension calculator on the LEASE website. He also outlined the process of buying the freehold (collective enfranchisement). Finally, the adviser explained that if the freeholder is obliged under the lease to do repairs and they do not do so, then the leaseholders can go to the local county court for an order for specific performance. Specific performance is an order of a court which requires someone to perform a specific act, usually what is stated in a contract.
Ms D said the adviser was “extremely helpful and knowledgeable and provided me with step by step advice and signposted me to online resources and other professional legal advice that I would need. An excellent service and all free!”
More information you might find useful:
- Collective Enfranchisement – Getting Started
- I am in dispute with my landlord but I do not want to go to Court or Tribunal. Is there an alternative?
- More Frequently Asked Questions on Buying the Freehold of Flats
- See all case studies