Council leasehold houses
Purchase the freehold for your council leasehold house
We own the freehold of a number of houses in the borough.
If you own a leasehold property it means you own the building but not the land it is built on. The freeholder owns the land and you pay ground rent.
We are happy to sell the freehold to the leaseholder. If you are buying a leasehold property, we will be willing to sell you the freehold as soon as you are registered as the leaseholder.
Reasons to buy your freehold:
- the less time on your lease, the more the freehold will cost to buy
- some people may be put off buying a house that isn't freehold
- many 99-year have less than 60 years left on the lease
- mortgage providers may not lend when there is only a short period of time left on the lease
- after you purchase of the freehold you no longer have to pay ground rent.
Cost of buying your freehold
This depends on the years remaining on the lease.
As well as the purchase price you will be responsible for the council's legal fee and estates fees, as well as your own legal expenses. You can ask us for a valuation for the cost of your freehold.
Registering your freehold
Once the freehold has been transferred you must register this with the Land Registry. You will have to pay a fee to do this. For more information visit the Land Registry website.
The leases contain covenants. These are rules the leaseholders must follow. These covenants still apply even if you purchase the freehold. You will have apply to us for permission to make alterations or additions to the building.
The Welwyn Garden City Management Scheme
If your property is in Wewlyn Garden City the Welwyn Garden City Management Scheme may also apply.
For independent advice, consult with your solicitor or mortgage provider. Your mortgage provider may offer you a loan to buy the freehold of your property.
Any solicitors within the borough will be able to help you on this matter. We can not recommend any firms in particular.