With over 30 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 to extend your lease
- Your asset stops depreciating in value.
- In respect of freehold enfranchisement, participating lessees have the option of extending their leases for free: the participants can join in granting themselves new longer leases often for 999 years, post completion of freehold purchase.
- On your lease being extended, 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 defects or ambiguities in your existing lease, in line with statute.
- Freehold enfranchisement helps you to control the management of your block.
- As a co-freeholder or member of a freehold company, you have the opportunity to 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 provisions 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.