Freehold Purchase Help

[Ggg]

Our freehold has recently been sold on and is now managed by a property management company. They have sent a letter asking who we insure our house with and have included some  recommendations  for future refernce. Is this usual?

On enquiring we have been quoted  £2000 to purchase the freehold ( 3 bed semi).  Does this seam about average cost?  This I have been told includes their fees but we will have to register the  property ourselves with the land registry.  

Thanks in advance

[Thirsty Relic]

I've never been asked questions like that, nor would expect such questions.  The company I pay my ground rent to tried a few years ago to get retrospective fees for  permissions for any improvements I'd made to the property (like double-glazing, central heating), telling me I had to do such improvements over time as part of my lease (!), and had to get their approval, and then pay them fees for that.  It sounded to me like a rip-off, so I simply ignored them and they stopped asking.

[sedith]

£2k to rid yourself of the Lease is not bad. Does that include solicitors fees? Jeffrey Shaw on SF is the one to give advice about buying the freehold.  I payed around £5k going back 5 yrs.

[Ggg]

Thank you  for both replies.

Price includes their fees. They said we needn't  get our own solicitor but would  have to register with land registry  ourselves?

[Jeffrey Shaw]

On 14/11/2020 at 14:31, Ggg said:

Thank you  for both replies.

Price includes their fees. They said we needn't  get our own solicitor but would  have to register with land registry  ourselves?

Well, they would say that wouldn't they?

Perhaps they're telling the truth; perhaps not.

I'd suggest not paying-over a large amount to a landlord whose bona fides you doubt.

Oh, and:

a. how many years are unexpired on your lease; and

b. how much is the ground rent each year?

If the unexpired term is long (> 200yrs) and the ground rent is low (< £50), the £2000 sounds too high.

[geared]

On 14/11/2020 at 14:31, Ggg said:

They said we needn't  get our own solicitor but would  have to register with land registry  ourselves?

 

Regardless of what you end up doing, ALWAYS get your own solicitor.

[Ggg]

Thank you  both for your  replies and advice. Think  we do need to get solicitor. Thanks again.

[topflat29]

The cost of the freehold title for a leasehold house will depend on the unexpired  years  left  on the lease and the annual ground rent.

 

For information of the cost of  buying the freehold title for house, you can download a free guide from www.lease-advice.org