In majority of cases, if your lease was more than 21 years when originally granted and you have been the registered owner of the flat for 2 years then you probably do qualify.
It should be noted that if your freehold is owned by the Crown Estate, National Trust or part of a building within a cathedral precinct your flat might be excluded from the right to extend your lease.
If you obtain a lease extension under the Leasehold Reform, Housing and Urban Development Act 1993 you will only pay a "peppercorn rent" which will mean no ground rent at all.
The Leasehold Reform Act 1967 gives leasehold tenants of houses the right to buy the freehold.
You need to have been the registered owner of the house for two years.
The right to enfranchise is dependent upon a number of qualifications for the house, the lease and the leaseholder.
The first point to consider is whether the building qualifies?
- There must be at lease two flats in the building
- At least two thirds of the flats must be leaseholders
- No more than 25% of the internal floor area to be in non-residential use.
Some properties may be excluded from the rights of Collective Enfranchisement:
- Buildings within a cathedral precinct;
- National Trust properties;
- Crown Estate properties
- There is a substantial amount of work to be completed before you start the process and we at will assist you with every step...
- Initial inspection
- Checking all leasehold documentation
- Calculating the likely premium payable