Freehold - right of first refusal.

[S11Steve]

Does anybody have any experience of buying freeholds?

We live in a semi-detached house but the ground is on on 700 odd year lease. We got a letter last year to loet us know the freeholder had changed, but thought nothing of it at the time.

We are now looking at buying the freehold, but believe there is some form of "right of first refusal" whereby if the freehold is sold, then the leaseholder should have first refusal. Looking at various websites though, this seems to refer more to the freehold on blocks of flats, and the tenants buy the freehold between them.

Is there anything similar that applies to individually owned houses, and does anybody have any knowledge in this area?

Thanks!

[dhalv]

Hi,

Can't offer any advice, I found the lease hold advisory service a great help when I had issues with a flat I owned. Worth a call for free accurate advice, and website for similar issues:

http://www.lease-advice.org/

Hope it works out either way.

[annsxman]

Why would you want to buy the freehold if you have a 700 year leasehold interest unless you have to pay more than a nominal - generally a peppercorn is used - rent? Unless there are some startling advances in medical science the hope you may have of outliving your leasehold are somewhere between Bob and none.

[S11Steve]

It's more a problem with the freeholder, than the freehold itself, there are too many restrictive covenants that are likely to be problematic if we want to extend the house or even sell it.

Google "fairhold huddersfield ltd" to understand the type of people the freeholders are!

[annsxman]

S11Steve said:

It's more a problem with the freeholder, than the freehold itself, there are too many restrictive covenants that are likely to be problematic if we want to extend the house or even sell it.

Google "fairhold huddersfield ltd" to understand the type of people the freeholders are!

Aha, I see exactly why you would want to get this bunch of shysters off your land.

You need to check the restrictive covenants. Typically such covenants are given by all the leaseholders for everyone's mutual benefit. Thus your neighbours may be able to enforce these covenants against you. You need to check whether acquiring the freehold and merging it with the leasehold interest so that all you have is the unencumbered freehold interest i.e. unencumbered by the existing leasehold, will lift these covenants.

I suggest you find a competent solicitor to advise you. This is not an area for the enthusiastic amateur, and it will generally be cheaper to pay for good advice than pay less for poor advice.

[TooMany2cvs]

http://england.shelter.org.uk/get_advice/leasehold...
might be of help/interest (I presume you're in England)