Buying Your Freehold
Whether you simply want to be more hands on in the running of your building, wish to acquire the freehold to increase the attractiveness and saleability of your leasehold property, or are frustrated with the way your landlord has been managing the building, Healys can assist you in ensuring a successful acquisition.
The basic test is that generally, the majority of qualifying leaseholders in your building (50% or more) can serve a formal notice on the landlord to acquire the freehold. We will check your eligibility, draft and serve the initial notice of claim, review and report to you on your landlord’s counter notice, approve the transfer documentation and then deal with completion and all post completion formalities for you. If terms cannot be agreed within the statutory time limits then an application to the First Tier Tribunal Property Chamber can be made to determine the terms. We will assist and guide you through the application process if necessary.
The advantage of buying the freehold is that you will acquire outright ownership of the building and will have a say in the control and management of your block. You can appoint your own managing agent and grant yourselves new long leases on favourable terms that can enhance the value of your individual properties. With over 10 years’ experience, Healys’ dedicated team of experts can guide you through the entire process from beginning to end.
Healys Leasehold solicitors can advise and assist you with leasehold enfranchisement services. If you require any further information, please don’t hesitate to contact Healys Leasehold services team.