Share of Freehold – sounds good but what does it mean?
Whilst historically the collection of ground rent by freeholders has been a steady income stream, since the implementation of the Leaseholders Reform (Ground Rent) Act 2022 there is now little…
Buying your Freehold
Buying your Freehold – Collective Enfranchisement under the Leasehold Reform Housing & Urban Development
‘Enfranchisement‘ is a collective right for leaseholders of flats to buy the freehold of the building in which they live. Subject to a number of qualifying criteria, leaseholders of flats have the right to ‘enfranchise’ – a right to buy the freehold of their building.
The benefit of buying your freehold is that will gain ownership of and control over the management of the building. You will also be able to grant long leases (999 years) of the flats in the building.