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Frequently Asked Questions
- I own a leasehold house. How much will the freehold cost?
- I want to extend my lease. Are there any additional costs payable other than the price of the lease extension?
- How can I buy the freehold of my building?
- How long can I extend my lease for?
- Why do I have to extend my lease?
- I own a leasehold house. How do I buy the freehold?
- What will it cost to apply to the Leasehold Valuation Tribunal (LVT)?
- What happens if we cannot agree on how much the lease extension should cost?
Frequently Asked Questions
How do I start the Collective Enfranchisement process?
Consult with other leaseholders to establish if there is a general wish to acquire the freehold. Determine if the building qualifies under the legislation and whether enough leaseholders are willing to participate formally in acquiring the freehold. If there are only 2 flats in the building both will need to participate. You may wish to draw up a participation agreement between the participating leaseholders to ensure that the process runs smoothly.
Have the freehold of the relevant premises valued to ensure that a realistic price is entered in the Section 13 Notice that will need to be served to start the formal process. There is no legal requirement to employ a surveyor, however it is advisable to do so because the premium proposed in the Section 13 Notice must be realistic.
More information you might find useful:
- Collective Enfranchisement - Getting Started
- More Frequently Asked Questions on Collective Enfranchisement
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