If your leasehold property is part of a block of flats or similar, you and the other leaseholders in the building can buy the freehold.
The owners of at least 50% of the properties in the building must participate and be eligible. If this is the case, the landlord cannot refuse to sell.
The process is legislated in the Leasehold Reform Housing and Urban Development Act 1993 (as amended).
The Act includes a formula that is used to calculate the amount each leaseholder will have to pay to buy the freehold. Also, the correct notice must be served on the landlord – we encourage you to use a specialist solicitor and surveyor when undertaking this process.
You and the other leaseholders have to decide how you will acquire and hold the freehold. This is often managed via a company of which you are all members. This company will also be the nominee purchaser, and will be named in the initial notice to the landlord.