Help !!! buying a freehold , over valuation!

Sam08

Thanks. I think I'm just going to extend my leasehold. I called Lease Advice Org yesterday and they were very helpful. I'm sending them my lease details today so that they can provide me with a guideline calculation.

Many thanks for replying

brixham

I live in a villa converted into 2 flats. My flat owns the freehold and downstairs is leasehold.At the time I bought I had a limited choice of lenders as a lot said they would not lend on a freehold flat.
I do get £2 per year ground rent from downstairs and I'm ashamed to say on this site but I squander it usually on cake !
brixham

Flockowl

I'm currently deciding weather to buy the freehold on my house the lease has 79 years left i've asked the landlord for a estimate of cost to which the reply was a staggering 80k!!! this covers the freehold for my house and the house next door I'm aware that the current landlord purchased the freehold at auction for 30K a massive inflation of the guide price of 3-5k before i owned the property.
I've been advised about enfrancisement where i could buy the freehold
for a fair price set by tribuneral possibly far less than the current landlord payed.
this sound to good to be true anybody know of the possible pitfalls?