Your rights, and what you get
Under the Leasehold Reform, Housing & Urban Development Act 1993, tenants (i.e. leaseholders) have the right to force the freeholder to sell them the freehold of their building.
You will need to make a one-off payment to the Landlord (known as a premium) for you to acquire the freehold.
How do I qualify?
Providing that the building, the Landlord and the leaseholders fulfil the criteria within the legislation then tenants can exercise these rights as long as at least 50% of the tenants wish to proceed.
Why should we be interested in buying the freehold?
Owning your freehold gives you control over issues such as service charges and the repairing and maintenance expenditure. The way the block is run, presented and managed can be a major factor when you are coming to sell the flat.
As well as management control, all those leaseholders who participate in the enfranchisement are able to grant themselves 999 year leases for virtually nothing (i.e. a nominal premium of £1.00 plus legal costs and expenses).
If the leases in your block are “short” (i.e. below 80 years) then it is likely to be much more cost-effective for you all to join together to buy the freehold, rather than individually seeking to extend your own lease(s).
What location/areas do we cover?
The majority of our work covers the south coast but we also carry out work for leaseholders and freeholders across the country. We deal with small blocks of 2 flats up to blocks containing 30+ flats.
Who do we act for?
At Biscoes we are able to act for either the leaseholder or the freeholder; but not both parties in the same transaction.
If you are a freeholder and you have been served with a Notice then you need to act quickly as the consequences of not doing so can be catastrophic for you. We are able to help and guide freeholders through the enfranchisement process. If you are a freeholder who wants to dispose of your freehold then please see our page on ‘Right of First Refusal’.
Why choose us?
At we specialise in enfranchisement work and our friendly solicitors are able to guide you through this process. Samantha has a wealth of experience in this area. We are listed in the directory of LEASE. We can deal with your matter should you need to make an application to the County Court of the First-tier Tribunal.
If you are a leaseholder or a freeholder and wish to discuss enfranchisement then please do not hesitate to contact Samantha Davies on 02392 660261 to discuss your situation and requirements.