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Welcome to this special NOTB supplement on enfranchisement. It’s a big supplement about a big issue for leaseholders, buying out their landlord and taking control of their assets.
Enfranchisement can be complicated, frequently fraught with problems, but wholly achievable by the ordinary leaseholder; whether a major mansion block, a docklands tower or a simple three-flat conversion the principles and procedures are much the same. A huge level of professional expertise has developed since enfranchisement became a practical reality with the Leasehold Reform, Housing and Urban Development Act 1993 (93 Act) and advice is easy to come by. Substantial numbers of solicitors and valuers practices specialise in enfranchisement and there is a growing industry in enfranchisement facilitators to organise the whole process for you. The formal enfranchisement procedures have been greatly simplified by the Commonhold and Leasehold Reform Act 2002 (2002 Act) amendments to the original legislation and experts agree that the process has never been easier.
Whichever route leaseholders choose to follow in acquiring the freehold and the control of their building there is one outstanding prerequisite – get advice before you begin. This supplement looks at the full range of issues involved in enfranchisement, from qualification and procedures, to finance and future management. We hope you will find it useful.
Peter Haler