Freehold Enfranchisement – Flow Chart
Check you qualify – you will need:
- Self-contained building or self contained part of building
- Non residential parts not more than 25%
- 2 or more flats held by qualifying tenants
- Flats of qualifying tenants not less than 2/3rd of total flats
- Participating tenants not less than 50% of total flats
Take professional valuation advice from a surveyor (not essential but strongly advised).
If more than two flats it is best to form a freehold company.
Serve notice on landlord of your right to buy freehold stating offer price and allowing at least 2 months to respond.
Landlord serves counter-notice on you stating price they are willing to accept.
If Landlord’s price in counter-notice is not agreeable negotiations commence, usually between the respective surveyors – if no agreement between 2 and 6 months after service of counter-notice then refer to Leasehold Valuation Tribunal for them to decide price.
Once price and all terms of purchase are agreed complete purchase – usually within two months of agreeing price.