Finance to buy freehold for residents management company?Make Text Bigger
I own 1 of 7 leasehold flats, there is a leaseholder controlled management company between the leaseholders and the freeholder.
The freeholder has offered to sell the freehold to the leaseholders, 3 of the 7 have already extended their leases, the other 4 will need to at some point.
Is it possible for the management company to borrow the money (approx £35k) to finance the purchase of the freehold on behalf of all the leaseholders?
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