Buying the freehold of my house

raddy59

Can someone tell me generally how much will I have to pay the freeholder to buy the freehold of a house?

jimbog

From a few thousand up to tens of thousands if they have already sold it on to financial speculators

LoopyLoops

It will depend on how long is left on the lease. Our Freehold is owned by the local council and we have 50 years remaining. We are in the process of buying ours as we are selling the house and, including the councils legal fees (plus our own) it is £15,000.

raddy59

We have c900 years left on the lease, ground rent £15 p.a.

k3rryb3nnett

have you lived in the property for more than 2 years? if you have have you made an application under the leasehold reform act?

raddy59

I haven't - but I was going to contact the freeholder to ask to buy it but wondered a rough idea of what it might cost exclusive of legal fees.

G_M

raddy59 wrote: »

We have c900 years left on the lease, ground rent £15 p.a.

15 x 900 = £13,500

That assumes the lease does not allow for any increase in ground rent. In 800 years, £15 pa is likely to be a paltry amount.

Mossfarr

I bought the freehold of my ex council house last year from the local authority. It cost £1500 including legal fees.
The annual charge was one peppercorn and it had over 850 years remaining on the lease (can't remember the exact number).
Write to your freeholder and ask how much they will sell for - don't forget you will have to pay their legal costs as well as your own.