Launched in 2013, the government’s Help to Buy equity loan scheme has enabled thousands of people to purchase a new build home with only a small deposit, with up to 20% of the property sale price covered by a government loan, or 40% in London. To...
Our specialist solicitors have helped hundreds of people purchase the freehold of their home whether it be a house or flat. We can assist individual home owners as well as groups of flat owners (collective enfranchisement). With a house you are buying the freehold and with a flat you are buying a share of the freehold. In order to be able to purchase the freehold in either scenario there are qualifying criteria that need to be met including, but not limited to:
- It must be a long lease, originally for a term of more than 21 years or with a right to renew
- You must be the leaseholder at the time of the application
- You need to have lived there for a minimum of 2 years
The original legislation regarding this was first defined in 1967 and it has been amended and extended several times. In 2019, it was hoped it would be reformed further to help 4 million people currently with leasehold properties purchase the freehold if they wanted. It was acknowledged that the current legislation can be complex to follow and difficult to negotiate. It has not been reformed further and it is vital that if you would like to consider the purchase of the freehold to your property or a lease extension you call our expert solicitors on 01616 966 229 who can assist.