|Losing the plot|
If you are a leaseholder and you meet certain criteria it might be possible for you to force the landlord to sell you the freehold.
In order to qualify you must have a long lease and the building must have:
- a minimum of two flats in the building;
- at least two-thirds of the flats must be leasehold;
- no more than 25% of the internal floor area is non residential use
At least half the total number of flats in the building must want to purchase the freehold. Where there are only two flats in the building both must participate.
If the building has been converted there may be no right of collective enfranchisement.
The benefit of owning the freehold is that you have control of the building and are able to manage it yourselves.
It is a specialised area of law and you must follow the correct procedure and be certain that you qualify. At Hart Brown we have specialists who act regularly for leaseholders who want to purchase the freehold and we will make sure you understand all the implications and help you through the process.