Areas of Law / Property

I bought a leasehold bungalow recently. I’ve now received a letter saying that the land has changed hands and would I like to buy it? Is there any advantage either way, and would I need to involve a solicitor?

You would be advised to see a solicitor, firstly to negotiate the price for you, and secondly to carry out the conveyancing work, which is similar to buying the property all over again. Whether it’s worth buying the freehold at all depends on a number of things, but mainly the number of years the lease still has to run. Owning the freehold could increase the value of the property, and usually means you are no longer obliged to observe the terms of your lease, which in some cases can be quite restrictive.

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