Buying your freehold

To qualify as a leaseholder you must have a long lease which includes any lease:

• with a term of more than 21 years
• granted under the Social Homebuy scheme with 100% ownership
• granted under Right to Buy 
• granted under Right to Acquire

The building:

• must be at least 2 flats in the building
• at least two thirds of the properties must have been sold on long leases
• the number of tenants wanting to buy the freehold must be equal to at least half the properties in the building

Also:

• any leaseholder owning more than 2 flats in the building cannot apply for the freehold
• joint leaseholders are treated as 1 qualifying tenant
• a building will not qualify if 25% or more of the building's internal floor area, excluding common parts, is used for commercial purposes
• properties occupied by council tenants must be leased back to the council on 999 year leases
• council tenants are still able to exercise their Right to Buy their properties
• the new freeholder will collect service charges for properties not involved in the freehold purchase (including those leased back to the council)
• the new freeholder is responsible for all future maintenance to insure the building