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Purchase of Freehold

Comment 2nd July 2010

I would like to see owners of leasehold properties able to purchase the freehold for a price that is proportionate to the ground rent they pay. Also, that the ground landlord is not to be able to make further charges after selling the freehold, to allow the property to be used as the property owner wishes.

Why does this matter?

I have a building to the rear of my property which is in a poor state of repair. It is leaselhold and the ground rent is £2.50 pa.. The building was built in 1910 and the lease is for 999 years. A covenant was added in 1962 to restrict use to storage. I wish to turn the building into a small cottage for rental. Planning permission is not a problem I asked the ground landlord to sell me the freehold. He agreed to do so but at a cost od 15% of any profit I might make. Also he said he would re-introduce the restriction to use only for storage, unless I paid a further fee of £1,500 for a licence to remove it. 

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