Leasehold Houses - Valuation for enfranchisement
How much does it cost to buy the freehold of a leasehold house? This guide outlines the valuation principles for enfranchising a leasehold house
The length of the process varies depending on whether you follow the formal or informal route whilst negotiating with your freeholder.
If you follow the formal route, the process can take some time and a period in excess of 12 months is not unusual.
If you follow the informal route, it depends entirely on the speed of negotiations as there are no hard and fast rules in this case. The informal route can potentially save time and it is recommended you try the informal route first.
Buying the freehold can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area.
More information you might find useful:
- Houses – Qualification and Valuation
- More Frequently Asked Questions on Houses – Enfranchisement and Lease Extension
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