Buying the Freehold

[palacegirl77]

Hi, we purchased our first house last year for 315,000. There are 991 years left on the lease but we want to buy the freehold. Is there any way of getting a rough estimate of how much this will cost? I contacted the landlords agent and they said we have to pay £360 to even receive a price. If its 5k or less we can start proceedings now but if its much more than that we need to wait...so I don't want to pay out if its way off. is there any way we can find out a ball-park figure? are the agents right to not offer us one and ask for the money? anyone gone through this process and have any suggestions would be appreciated!

Have a look on the national leasehold page on FB run by Katie Kendrick. It's full of brilliant info. Go down the enfranchisement route. We managed to sell our leasehold house but at a loss and it took over a year.

I did it by asking the solicitor I used to buy my flat to help me do it. It can be quite complicated and therefore expensive, so be prepared.

Don't go via the landlord's agent yet - they are out to get money out of you, obvs. Talk to your solicitor first.

Mine was v complicated and so I had to ditch the first solicitor and get a better one.

(Landlords do not want to sell freeholds).

Has anyone else in your estate bought their freehold? You need a good solicitor who is familiar with this field, they will get the ball rolling. But if that is the “fee” you may just need to pay it. It will be worth it to get rid of the prospect of ever increasing ground rent.