Mark Chick recently recorded a podcast with the website Property Battlefield that looked at the question of ‘What is freehold?’ and also how flat owners can go about buying their freeholds.
The discussion was about why we have freehold. It also looks at the two main ways in which leaseholders can buy their freeholds. This tends to be either under the Landlord and Tenant Act 1987 where the landlord serves a notice seeking to sell, or to obtain clearance for a sale, or under the the Leasehold Reform Housing and Urban Development Act 1993. In the second case, the flat owners serve notice on the landlord.
Both options present a range of issues that need to be considered, including pricing and timing.
Property Battlefield is a site run by John Savage that provides information for estate agents and other property professionals although the topics covered in the podcast will be of interest to property investors, managers and anyone looking to buy their freehold or find out more about buying the freehold to their block.
If you have any questions about buying your freehold or extending your lease then by all means email Mark and the Award-Winning Leasehold Reform team: leasehold@bishopandsewell.co.uk or call 0207 631 4141 for further details.
