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Buy Your Freehold - guide discussion

edited 30 November -1 at 1:00AM in House Buying, Renting & Selling
192 replies 50.6K views
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  • JoantheboneJoanthebone Forumite
    274 posts
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    As the management company are happy for you to buy your share of the freehold, why not just do it, then you sell your flat with a share of freehold. 
  • SlitherySlithery Forumite
    3.2K posts
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
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    Hi all, quick question with hopefully a simple answer:

    We are considering selling our flat and it has become apparent that our lease length of 85 years may become a problem for would be buyers. We are the only flat in the block who do not own a share of the freehold, the management company having bought in in 2011 and shared out among the 9 flats for 999 years.

    What we are interested in is starting the process off (the management company seem happy for us to buy in) and adding the buyer of our flat in name on the share of the freehold. This way we’re hoping the cost of buying in won’t put off potential buyers as they’ll have the share of the freehold at the time of completion on the sale.

    Does anyone know or have any experience of whether this would be possible, easy, difficult etc?

    Thanks!
    C

    Buying a share of the freehold and extending your lease are two different things. Just buying into the freehold will still leave you with an 85 year lease.
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