As the owner of a leasehold property you may be able to purchase the freehold to your property, if certain criteria are met.
Purchasing the freehold to your property can offer a number of benefits including:
Leases vary widely, but many include restrictive clauses which mean that if you want to carry out a variety of alterations, from minor things such as installing a satellite dish to bigger alterations such as building an extension, you may need to get the landlords written consent, usually incurring a consent fee. Owners of flats can also, under certain circumstances, get together to buy the freehold of their building. This process is known as collective enfranchisement. Norrie Waite and Slater solicitors can handle all the legal aspects of buying your freehold. For more information, or for an estimate of costs, contact us and speak to one of our experienced property specialists.