Sensible Topic Help buying the freehold of a house

[willin]

I would like a little help/advice to buy the freehold of my house, We bought the property in October 1998, from bellway (house builder) who held the lease at that time, the ownership has changed hands a few times since then to different companies, created by bellway I think, the lease runs for 99 years.
The problem I have is – the current company that holds the lease “ABACUS LAND 4 GR2 LIMITED” use a management company to collect ground rent and admin work such as the purchase of the freehold etc. Homeground Management Ltd 104a Park Street LONDON W1K 6NG
These clowns want £108.00 to check with the landlord then tell me how much it will be to buy the lease. No chance.
I know the tenant has a right to buy the lease but do these people have a right to charge for an estimate? I did try with the leaseholder but was referred to Homeground.
Any help and or advice would be appreciated.

 

[K]

Hi mate,

Having never purchased a freehold property i can't really comment. Having said that i did a quick google search and found this.

Buying a freehold: step-by-step guide - MoneySavingExpert

It says buying the freehold could add 1% to the value of the property.

What i would say is don't think out doing this if you are funding it by either getting a loan or extending the mortgage. Because the amount you will pay back in interest will be higher than that of the ground rents!

I always remember my parents when i was a child had this house and paid something like £6 a year in ground rent.. they never paid it. they kept receiving letters but just chucked them.. i assumed at that time the 6 quid a year wasn't worth taking you to court. they did however have to pay it when they sold the house lol..

 

[willin]

Thanks K mate, mortgage finished no loan. read that along with other things.
got this from another site "They had (and have) no right to charge you for providing a sale price. You've been ripped-off." seems I was correct.

Also from elsewhere "Serve a statutory Notice of Claim on (the leaseholder). This protects your rights.
A Notice, under the Leasehold Reform Act 1967, that:
a. proves your status as an eligible leaseholder; and
b. claims the purchase of your property's freehold reversion, at a price to be agreed." think you need to have legal advice.
Here is a free calculator to see what you may have to pay for the freehold of a HOUSE (not for flats) Freehold Calculator