Enfranchisement Advice - Semi Detached House

jamez79

Hi,

I was wondering if anyone could assist in providing a rough cost for buying the freehold of my house.

Purchased house for £115,000 (now worth approx £126,000 -£130,000 based on similar houses selling in the same street)
I have owned and lived in it for 2 years.
The original lease is dated Sept 1974
Original ground rent was £40 per annum
Purchase price of the plot was £1,700

From the above i would consider this situation as eligable under the original valuation basis, but i have viewed the calculations and still can't work it out.

I've read and re-read http://www.lease-advice.org/housframe.htm and get more confused each time i read it. I don't want to fork out lots of cash to get an idea of what it'll cost me if i can't afford it.

I'd really appreciate someone giving me a rough idea of what i can expect to pay for the freehold and rough costs of fees etc.

Thanks in advance,

James

RiskAdverse100

You don't say what the rateable value of the house was on the first day of the lease. This must be below a certain amount (set out in the Act) for the original valuation basis to apply.

RiskAdverse100

jamez79

Hi,

Thanks for the response. How do i find out what the rateable value was for that date? I've looked through my lease and can't seem to find it. Is there somewhere else i could check?

Just done a search on the internet and it only seems to hold information on rateable values for non-domestic proeprties. Could this mean it doesn't apply to domestic households?

Thank you,

James

ffacoffipawb

jamez79 wrote:

Hi,

I was wondering if anyone could assist in providing a rough cost for buying the freehold of my house.

Purchased house for £115,000 (now worth approx £126,000 -£130,000 based on similar houses selling in the same street)
I have owned and lived in it for 2 years.
The original lease is dated Sept 1974
Original ground rent was £40 per annum
Purchase price of the plot was £1,700

From the above i would consider this situation as eligable under the original valuation basis, but i have viewed the calculations and still can't work it out.

I've read and re-read http://www.lease-advice.org/housframe.htm and get more confused each time i read it. I don't want to fork out lots of cash to get an idea of what it'll cost me if i can't afford it.

I'd really appreciate someone giving me a rough idea of what i can expect to pay for the freehold and rough costs of fees etc.

Thanks in advance,

James

Write to the freeholder and ask them how much.

My house is leasehold, fixed at £20 per annum, 999 year lease, 970 years left!

They wanted £600 plus their costs.

Left as it is, since paying fixed £20 a year is better value and buying the freehold won't necessarily increase the house value.