Section 5 Notice
What is a Section 5 Notice?
When your block of flats is owned as “Leasehold” there is a “Freeholder” that owns the land your property is built on and you pay ground rents to them. A Freeholder who wishes to sell his Freehold interest in a block of flats must first serve a Notice (a “Section 5 Notice”) under the Landlord and Tenant Act 1987. They serve this on the Leaseholders giving them the opportunity to buy that interest on the terms set out in the Notice, known as Right of First Refusal.
Have you received a Section 5 Notice?
Receiving a Notice means the freehold owner of your property wishes to sell the freehold ground rents. We provide free, no obligation advice to anyone in receipt of a Notice. In return, we’d welcome the opportunity to purchase that ground rent. If you contact us within 2 months of receipt of a Section 5 Notice and we go on to buy the freehold, we’ll pay you £500. Contact us today.
Have you recently sold a freehold ground rent interest?
We also have extensive experience serving Notices in accordance with the Landlord and Tenant Act 1987 and it’s likely we will be able to offer you a significant saving from more traditional routes. Please contact us for a no obligation quote.
Call Ben Ogunby today with any enquiries