Leaseholders have a legal right under the Leasehold Reform Act 1967 to buy the freehold of their house if they meet certain qualifying criteria. Alternatively, it is possible to negotiate with the freeholder informally to buy the freehold by agreement.
It is possible for leaseholders to informally approach the freeholder to try and acquire the freehold of their house by agreement. This is simply a matter of negotiation. There is no right to buy the freehold this way and consequently you cannot apply to the First-tier Tribunal (Property Chamber) to determine any terms. However, depending on the nature of any agreement it may be enforceable through a County Court.
Download a template informal letter enquiring about lease extension of a flat, or to purchase the freehold of a house or flat
The Act sets out a procedure and timescales to be followed to acquire the freehold. Under this route the Tribunal can determine the price and terms of acquisition if you fail to reach an agreement.
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
- Application to the First-tier Tribunal (Property Chamber)
- 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