With over 20 years’ experience, our Leasehold Enfranchisement team are acknowledged experts in this area of law.
What is Leasehold Enfranchisement?
Many tenants of leasehold houses or flats are unaware of their rights -
- to purchase the freehold, either individually in relation to leasehold houses, or collectively for a block of flats, or
- to seek a leasehold extension
This is known as Leasehold Enfranchisement.
Want to know more? Download our short Helpful Guide to Leasehold Enfranchisement here
Great reasons to buy your freehold or extend your lease
- Your asset stops deteriorating.
- You extend your lease for free: if you choose to buy the freehold you will not need to pay a fee to extend your lease and can grant yourself a very long lease extension, often for 999 years (subject to agreement with your fellow leaseholders).
- You pay no ground rent – your new lease will be at a ‘peppercorn rent’ (i.e. your lease effectively becomes rent free).
- Defects in your current lease will be cured – in a lease extension claim, the freeholder is legally obliged to correct any defects or ambiguities in your existing lease.
- Enfranchisement increases the value of your home.
- It helps you to control the management of your block.
- Amend restrictions on your lease. As a leaseholder you may be bound by various conditions over alterations or pet ownership for example which can be frustrating. As a freeholder you can update unfair or badly drafted leases.
- Re-mortgaging may become easier.
- Enfranchisement provides a more secure family inheritance.
What should I do next?
If you would like to know more about leasehold enfranchisement please call 020 7436 5151 and ask for a member of our team or email mb@cbglaw.co.uk