Purchasing Freehold

Hi, I am looking at the possibility of buying freehold from a 'difficult' freeholder. I live in a converted house, it has been made into 2 maisonettes - ground and floor floor. Both me and my neighbour are in agreement, but we are scared off by the prospect of a long, expensive legal case. To give rough figures, properties were selling for a 175k & 200k respectively a couple of months back, and less than 70 years remain on the leases (freehold purchased in mid 70s for circa 10k).
Can you give me any idea at all about timescales and possible costs to buy (I think its collective enfranchisement)? I doubt the freeholder will let us buy without making things difficult!
Many thanks in advance.

Hi MC2008,

The fact is, your freeholder must sell (however difficult he is), provided both you and the other flat owner proceed together. You are correct by stating the general terminology is Leasehold Enfranchisment. I prefer to call it Freehold Purchase or Acquisition of Freehold instead of the wordy name someone made up when the legislation first came into force. Most people associate the word "Enfranchisment" with a chain of Burger King...Who can blame them! I prefer to use simple language that people can understand.

I believe NOW is the best time to buy the freehold. Yes, it may take several months to complete, but once you have bought the freehold, you then rid yourself of your freeholder, your ground rent and you can then extend your leases to 999 years. All in time for when the property market picks back up i.e. when you may be thinking of selling.

I will be happy to assist you guys, and please let me have your email address (or click on my website www.tjmlaw.co.uk and email me from there). I will then provide you with a quote, together with an Information Sheet and some other useful documentation that will assist in your decision.

Don't forget to mention you wrote on my Forum, and I will apply a discount.

Tom