Why should I enfranchise?

Residents who own the freehold can grant themselves long leases at no charge or for a nominal price and can in addition reduce or remove ground rents. In many cases the control of the management will be taken over by the tenants or a company run by tenants or nominated by them. Finally it is…

Do I need a formal valuation?

It is almost always advisable to do so. The formulae for calculating the valuation are complex. You will need to know the valuation even if only for the purposes of negotiating with the freeholder. The notice served on the freeholder must state the proposed price. If it is unrealistic it could invalidate the notice. The…

201512.07

I have heard that I have to pay the freeholder’s costs. Is this true?

Yes. The residents’ nominee company pay the reasonable costs of the freeholder (and any intermediate landlord) in: • assessing the right of the tenants to enfranchise • dealing with the tenants notice and statutory procedure and • handling the valuation and conveyancing work. These costs comprise solicitors and surveyors fees. Costs must still be paid…