Leasehold enfranchisement solicitors

Why should you enfranchise?

There are a number of benefits to enfranchising that make it worthwhile to consider these include:

• It enables tenants to grant themselves long leases for a smaller price and removes ground rent
• Allows you to live in the property as long as you wish
• The ability to alter the land without consulting the landlord
• A tenant owned building is a positive benefit when selling a property
• Peace of mind

In order to qualify for enfranchisement there are certain stipulations to the long lease:

• The leasing period must exceed twenty one years when first agreed
• Only a tenant who has been the tenant of the whole of the house under a long tenancy for at least two years at the relevant time of the claim has the right to enfranchise
• You do not qualify if your tenant is a charitable trust and the house is provided pursuant to its charitable purposes

There are other issues that may relate to your case depending on your circumstances, speak to our experts for more information.

What’s involved in leasehold enfranchisement?

In order to enfranchise a tenant must serve their landlord a ‘notice of tenant’s claim’ (NTC); this can be done at any time during continuation of the tenant’s long lease, though there are some exceptions.

Once a tenant has served an NTC the tenant and landlord become contractually bound to grant and accept the freehold. Terms must be agreed as well as costs. The tenant will then hold the property freehold.

A typical process could entail

• Checking the eligibility of the claim
• Organising for enfranchisement
• Choosing the nominee purchaser
• Selecting and instructing professional advisers
• Assessing the purchase price
• Serving the initial notice
• Preparing for the subsequent procedures

The longer that is left on your leasehold will reduce the costs you incur in acquiring freehold so it's best not to delay your application.