Buying freehold, we own 3 of 4 leaseholds

by Readers Question

3 years ago

Buying freehold, we own 3 of 4 leaseholds

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Buying freehold, we own 3 of 4 leaseholds

In 2012 we bought brand new flats in a brand new building of 4 flats. Out of the blue we were able to purchase a third flat in the building which we did.

Obviously the management charges are for us to be responsible for x3. Buying freehold, we own 3 of 4 leaseholds

We don’t know how to go about the possibility of buying the freehold and whether the freeholder is obliged to sell to us as we own 75% of the flats in the building.

If anybody could point us in the right direction we would appreciate it.

Many thanks

Mike

Jackson

 



Comments

Mark Alexander

3 years ago

Hi Mike

I suggest you contact The Leasehold Advisory Service - see >>> http://www.lease-advice.org/
.

Runju Rahman

3 years ago

Hi Mike,

I know its been a while since u posted your question, have you had any luck with the purchase of free hold or any info in regards to this ?
As far i am aware you will not qualify for the collective enfranchisement if you own more than two leases in one block- thats if you do decide to go down that line.
I may be be wrong, correct me if i am.

Thanks
Mizanur

mike jackson

3 years ago

Thanks Mizanur. I had read the government site that was suggested to me and I do believe you are right. We have decided to hold on for now and maybe if we sell one of the leases later on we would revisit the situation. Thanks for your comment.

Runju Rahman

3 years ago

Hi Mike,
Have you tried negotiating with the freeholder and see if you guys can come to some sort of agreement on the sale of the freehold?

Thanks
Mizanur

Puzzler

3 years ago

As Mizanur says, the freeholder is not obliged to sell to you but he might be willing to do so. You would have to get the other flat owner involved as well, have you approached them? Suggestion would be each flat owns 25%. The other owner might well object to you having 100% since they could be disadvantaged by that. Even if you sell one of the leases the other leaseholders would have to be involved. Share of freehold is a good selling point as there would be no ground rent and control of the service charges.

Jay James

3 years ago

Reply to the comment left by "mike jackson" at "05/07/2015 - 09:08":

Could you buy up the 4th lease, put each lease in a different name (perhaps company names unconnected other than each is owned by you), then force purchase of the freehold?

Runju Rahman

3 years ago

I think first step may be best negotiating with the freeholder and see how it goes from there, im sure u guys can come to an agreement.... Well i hope u do 🙂

Puzzler

3 years ago

Buying the fourth lease would not enable forced purchase, see Runju's earlier post

Jay James

3 years ago

Reply to the comment left by "Puzzler " at "06/07/2015 - 17:38":

I asked if "each lease in a different name (perhaps company names unconnected other than each is owned by you)" would enable forced purchase.

To put it slightly different, would this situation count as four individual owners for the purposes of acquiring the freehold?

Jay James

3 years ago

Reply to the comment left by "Jay James" at "06/07/2015 - 17:58":

(After much research, I cannot find information on the particular (latter) question.)

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