I can’t afford to buy the freehold of my house. Can I extend my lease instead?
Leasehold Houses – Buying the freehold – Qualification and procedure
For buying the freehold of leasehold houses.
Under the Leasehold Reform Act 1967 you may be entitled to an extension of 50 years. There is no premium payable for a lease extension of a house granted under the Act, however, at the start of the new 50 year lease the ground rent may increase to a modern rent. Advice should be sought on what the new ground rent may be prior to proceeding with the extension.
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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