Freehold Purchase

1. There is a defined process for bringing the matter to a conclusion via the strict timetable as set out in the legislation.
2. The valuation date is fixed at the date when the notice is served.
3. If you are unable to agree terms, you have recourse to an independent arbitration process and have the option of taking the matter to a tribunal, whose decisions are binding.

1. Professional fees (e.g. for legal and surveyors’ advice) payable as part of the process are typically lower.
2. The process may provide you with a faster resolution.

This is a legal transaction between a leaseholder (the buyer) and a freeholder (the seller) that is similar in some ways to the conveyancing process when you bought your leasehold property. As it is a contractual arrangement, we recommend that you obtain independent professional advice (such as legal and/or valuation advice), as you did when you acquired your leasehold.

The information within the FAQs should give an overview of the options. If you need more information you can contact us at fhsandlex@homegroundonline.com or through the online contact form, and our team will try to help you further.

If you have applied for terms to purchase your freehold and you agree to the terms on offer, the fees payable at conveyancing stage are made up of:

• Landlord offer price fee = £150*
• Landlord’s solicitor (third party) legal fees (conveyancing) = £700 plus VAT (£840 total)
• HomeGround administration fee (instructing solicitors, preparing documents for signature, updating records) = £350
• Disbursements = normally minimal and typically in the region of £50.

*Please note that the landlord offer price fee of £150 will be refunded on completion of your freehold purchase.