Freehold purchase (enfranchisement)
Book Freehold purchase (enfranchisement)This service is for leaseholders who wish to own the land their property stands on, rather than just the building. Buying the freehold eliminates ground rent, increases property value, and gives you more control over your home.
When do you need a Freehold purchase (enfranchisement)?
You need this service if you are a leaseholder and want to buy the freehold of your house or participate in a collective enfranchisement of a block of flats. It's especially beneficial when your lease term is getting shorter.
What happens on the day
There is no 'on the day' service in the traditional sense. All work is conducted remotely by solicitors and valuers. This involves reviewing lease documents, calculating the freehold price, and managing negotiations and legal paperwork.
How to prepare
- Gather your original lease agreement and any deeds of variation.
- Provide details of current ground rent and review periods.
- If a flat, discuss with other leaseholders their interest in collective enfranchisement.
- Be prepared for valuation costs and the freeholder's legal fees.
How to improve your result
- Act sooner rather than later, especially if your lease is below 80 years.
- Engage an experienced solicitor and valuer for the best outcome.
- Communicate clearly with any co-purchasers in a collective enfranchisement.
Why it is useful day to day
Owning the freehold removes ground rent payments, increases property value, and simplifies future property modifications or sales, offering greater security and control.
Why we ask these questions
We ask about your current lease term and ground rent to help estimate the cost of the freehold. Knowing if it's a house or flat affects the process (individual vs. collective enfranchisement).