Enfranchisement is the right for you to purchase the freehold of your property or an extended lease.

Part 1 of the Leasehold Reform, Housing and Urban Development Act 1993 gave leaseholders two new rights:

1. A group right for leaseholders of flats to apply to buy the freehold interest of the building they live in provided they fulfil certain qualifying requirements.
2. An individual right for a leaseholder to buy a new, longer lease to replace the existing lease. The effect of this transaction is to add 90 years to the time left on the existing lease.

Most lessees who satisfy an ownership test have the right to buy, at a fair price, a new lease expiring 90 years after the expiry of their present lease.

 To qualify, you must have owned your flat for the preceding two years.

In addition, you must pay the landlord's costs incurred during the enfranchisement process.

To discuss this matter further, or to obtain further information please call us on 020 7346 6552, or email leaseholdmanagementenquiries@hyde-housing.co.uk

You can also contact the http://www.lease-advice.org or call them on 020 7374 5380, for further information.