Purchasing A Freehold On My Home

[TiffanyD63]

my house is leasehold with 54 yrs left, i want to sell, but have been advised potential buyers may not be able to get a mortgage so i would first need to buy the freehold. I have had many different estimates, none of which make sense. My house is worth approx 140,000, can anyone please advise. cheers

[tonyav]

If I were you I'd consult a solicitor.

[ubasses]

http://www.freeholdcalculator.com/home.php

You could have a look at the above, it cannot give you a definitive amount, but it may give you a starting point to start negotiations. No doubt the area you live in and popularity would have to be taken into account.

http://www.freeholdcalculator.com/home.php
The above will help with any Rights you have and give a bit more advice.

[ubasses]

sorry this is 2nd link
https://www.gov.uk/leasehold-property/buying-the-freehold

[TiffanyD63]

Thanks guys

[Sycamore3House]

I purchased the freehold on my property about 10 years ago for the exact same reason as yourself. I contacted the property management company to whom I paid my ground rent and asked them the cost. It was about £2,500 and there was about 55-60 years left on the lease at the time. Solicitors costs were about £500. I just phoned around the solicitors asking for quotes. A conveyancing firm may be able to do it cheaper.