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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
The freehold has been offered to us but it is going to auction, what do I do?
It appears you have been served with a notice under Section5B of the Landlord and Tenant Act 1987. It gives you, collectively with other qualifying tenants, a right to replace the successful bidder at an auction. The notice must be served between four and six months before the date of the auction. If the qualifying tenants wish to accept the offer the requisite majority must do so within the initial period specified in the notice. This is 51% of the flats which are held by qualifying tenants. Those accepting must nominate a purchaser. This could be a company that they form to take over ownership of the freehold.
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