Buying the freehold
Leaseholders can act together to buy the freehold of their building if they meet certain qualifying criteria. This is known as collective enfranchisement. Leaseholders can apply to buy the freehold where at least two-thirds of the property is sold and that two thirds want to buy.
You should seek specialist advice on the best option for your particular circumstances. You can obtain further information from the Leasehold Advisory website.
A valuation will be carried out by an independent Chartered Surveyor on each of the individual flats in the block subsequent after a Section 13 notice has been received. You will be responsible to pay our valuer’s fees of the sum of £912, legal and administrative cost of approximately £3000 as well as the value of the freehold.