Liverpool City Council have been sending out 250 letters per month to eligible leasehold homeowners across Liverpool, offering them the unique opportunity to purchase the freehold of the land their home is on.
Owning the freehold title to your property means that you will own the land your house sits on and be able to make changes without the permission of a landlord.
If you are one of the select number of homeowners who have received this offer, our experienced team of conveyancing solicitors at Paul Crowley & Co are here to explain how the process works and the possible benefits of purchasing the freehold title to your property.
What is the difference between freehold and leasehold?
The terms freehold and leasehold describe what kind of title you have to your property.
Leasehold: If you are a leaseholder, you own the property for a set period of time but not the land it sits on. The land will still belong to the freeholder and you will usually pay ground rent.
Freehold: If you own the freehold title to your home, you own both the property and the land it is built on outright, so won’t pay service charges and ground rent. You will be responsible for repairs to your own property and be able to make changes without the permission of a landlord.
‘If you have been offered the opportunity by Liverpool City Council to purchase the freehold title, our experienced Property team at Paul Crowley & Co are able to complete the purchase of your properties freehold title on average within 4 weeks of being instructed.’
Jenna Gall | Head of Conveyancing
Paul Crowley & Co solicitors
Which properties are eligible?
There are around 9,000 homeowners across Liverpool who will be offered the opportunity to purchase the freehold title to their properties.
The eligible properties are ex-council houses which were sold on as leasehold properties 10-15 years ago. Although properties of different sizes and values are included in the offer, the cost of purchasing the freehold title will be the same.
Photo © David Dixon
How much does buying the freehold cost?
Liverpool City Council is offering those fortunate enough to be eligible to buy the freehold title to their home at a standard rate of £1,000 with an additional £750 being payable to cover the surveyor’s costs and council’s legal fees.
If you wish to purchase the freehold to your home, our friendly conveyancing team at Paul Crowley & Co solicitors are here to provide a swift and stress-free service for a fixed fee.
Benefits of purchasing the freehold title
- You will not need to be concerned about the Lease expiring
- You will not need to get the Freeholders consent for alterations to the property (you will still need to get planning permission/building regulation consent for any works but you will not need to obtain consent under the terms of your Lease to the works you plan to carry put which is an additional expense and separate from planning permission/building regulation consent)
- Should you sell the property at a future date your buyer will not need to serve notice on the Freeholder confirming change of ownership and pay a fee
If you wish to take the council up on their offer of buying the freehold title, call Paul Crowley & Co’s experienced conveyancing team today. We are able to complete the purchase on average within 4 weeks of instruction and will keep you updated and informed throughout the whole process.
PAUL CROWLEY & CO… ON YOUR SIDE
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