Buying the freehold

kwackerman

Hi,

Just bought a semi-detached house which is leasehold ( 949 years remaining).

Is it likely to be possible to buy the freehold and would it be worth it?

Main reason would be to hopefully have total control over what we change / do to the property ie removal of an internal wall/ building a veranda/ extending driveway.
I have to pay £48 for any query/ permission etc.

Your advice would be welcomed.

Andy

TrickyDicky101

How much is the annual ground rent? Who is the freeholder? Very likely they would sell to you - but you would need to cover their legal fees/expenses as well as your own. If the GR is very low then you need to ask yourself if it is worth it.

kwackerman

Ground rent is only £17 a year so not an issue. It was mainly about not needing permission to do things from a freeholder.

csgohan4

does it double every x years for example the ground rent?

TrickyDicky101

What does your lease state in regards to works you might want to do and what authority you would need from the freeholder?

I'm not trying to imply it's a bad idea to buy it by any means - it is just that in practical terms it may not be of much benefit to you (this opinion would probably be materially different should you wish to sell in the near term).