Leasehold house owners have been brushed aside by ground rent investment groups when they ask about buying the freeholds to their homes.
Most failed to inform leaseholders of their statutory rights to buying the freehold under the 1967 Leasehold Reform Act.
But now several of them have changed the wording on their websites following the intervention of LKP.
E & J Estates advised on their web site:
“The landlord has acquired the freehold for the long term and it is not for sale at this moment in time.”
But this has been changed to:
“The Landlord has acquired the freehold of your property as a long term investment however, you may have statutory rights to purchase it. We recommend you seek independent legal advice.”
An example of advice from Estates & Management, the Tchenguiz group, is:
“Our clients are not currently looking to dispose of any of their freehold interests at this moment in time. We are consequently unable to offer you a sale of the same for the subject property.”
It is now suggesting that this wording will be changed.
“We will also recommend that the inquiring tenant seeks professional advice regarding their statutory right in relation to the purchase of their freehold home.”
Mainstay had advised leaseholders:
“Your landlord’s intention when purchasing your freehold was to hold it as part of a long term investment strategy. Its preference would therefore be to retain all freeholds purchased indefinitely.”
It suggests leaseholders contact Citizens Advice or LEASE “if you would like to explore further the purchase of your freehold”.