Quiz - how well do you understand your lease?
Understand the key things you should know about your lease. If you are a purchaser, this can help make sure your solicitor has covered all of these points and explained them clearly to you.
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
Still not found the answer?
Contact LEASE to have your enquiry dealt with by one of our experienced advisers