The Dulwich Estate

Freehold Purchase

a)  Houses

If you have a lease on a house, you have the right to acquire the freehold under the provisions of the Leasehold Reform Act 1967. You will need to have owned the house for a minimum of two years.

A Notice under the 1967 Act will need to be served and as soon this is received, we instruct our surveyors to inspect your property and to carry out a valuation of the premium to be paid for the freehold. This will be negotiated either directly with you or your surveyors. Our solicitors will be instructed to make contact with your solicitors at the same time. It takes about four months from start to finish.

You are liable under the legislation for our costs in dealing with the Notice regardless as to whether or not the sale of the freehold is completed. These costs (assuming that the matter does not become protracted) total £2,250 inclusive of VAT and comprise:

Surveyors' fees £ 1,080.00
Solicitors' fees £ 1,020.00
Administration fee £    150.00

 

b)  Blocks of flats

The lessees in a block of flats have, subject to meeting certain requirements, the right collectively to acquire the freehold of their block. These provisions have been amended and extended, particularly by the Commonhold and Leasehold Reform Act 2002, and lessees should seek appropriate legal and valuation advice to guide them through the procedure. Whether you purchase the freehold individually or collectively, the property will become subject to the Scheme of Management.

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