Collective enfranchisement can be a real minefield, with all sorts of legal and financial complications to deal with. And making matters worse is the Stamp Duty Land Tax (SDLT) – a chunky tax that’s often a major hurdle for leaseholders who want to take the plunge and buy the freehold. This tax can add a […]
The King’s speech promises sweeping reforms to the 400 year old home-ownership landscape for future generations, but what does all this really mean for ordinary home owners today – and should they really put their freehold purchase plans on hold?
Buying a freehold property is a big deal, and understanding solicitor fees is a crucial part of the process. These fees are way more than just a bunch of numbers on an invoice – they’re the cost of making sure everything is above board, your interests are protected, and the whole thing runs smoothly.
The clearest way to explain collective enfranchisement is to show what it changes in practice. To illustrate what collective enfranchisement might look like in a typical scenario, consider eight leaseholders in a converted Victorian school who had been paying an external managing agent £24,000 a year in service charges. That budget included a management fee […]
Ground rent is a term familiar to many leaseholders, yet its implications can often be unclear. Understanding ground rent, especially regarding increases, is crucial for leaseholders. This article aims to clarify whether a freeholder can increase ground rent, examining legal, contractual, and practical aspects. It is also personal to us. The Freehold Collective was founded […]
The regulation that catches groups out most often is not the most obscure one. It is the participation threshold.
Understand the big difference between freehold and leasehold – and why it matters. Freehold ownership means you own the property and the land it sits on, lock stock and barrel. That comes with its own set of perks and downsides, but there’s also an alternative to consider: buying the freehold, or share of freehold, which […]
Collective enfranchisement is a concept that empowers leaseholders to take control of their living spaces by collectively purchasing the freehold of their building. This process not only grants leaseholders greater control over their homes but also offers various financial benefits and increased property value. It’s important to consider the freehold cost, which can vary widely […]
Step 3 is where most collective freehold purchases slow down or fail. Here is why, and what to do instead. Imagine a scenario where a 7-flat building begins a collective freehold journey with five willing participants, more than the required half. At Step 3 they instruct a local solicitor who has not handled a collective […]
In January 2021, the UK Government issued a press release trumpeting the “biggest reforms to English property law for 40 years”. However, will leaseholders really see any benefits? If so, to what extent and when?
