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Buying the freehold

Started by kayelondon, November 02, 2024, 04:36:28 PM

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kayelondon

I've been offered the freehold of my property which is a house converted into 3 flats which I own.  There are 89 years on the lease currently, I have always paid a token service charge (£50 annually) as the freeholders do not do anything to maintain the property.  They are asking for £25k which I'm struggling to find due to high interest rates etc although they have gone down from £29k. Any suggestions from anyone especially with the new rules coming into place?  If it goes to auction what will happen?