You may already be aware from the recent news reports that our Freeholder (Citistead) is about to sell-off their portfolio of freeholds to pay off large debts.  It is their legal obligation to offer the leaseholders their own freeholds for their respective properties.  This is termed Right To First Refusal (RFR) in the Landlord & Tenant Act 1986.  The process is clearly defined on the website:

http://www.lease-advice.org/publications/documents/document.asp?item=79 This website contains a good range of information for leaseholders.  If you would like to find out more about the purchasing the freehold for your apartment, or indeed want to learn more about how the Rockingham Court Management Company could purchase the entire freehold, then take a look at the website above; seek legal advice; approach the management company and ask them to provide you with the details you require to make an informed decision.  the benefits are many: we currently have to allow the freeholder to nominate our insurer.  Along with drastic premium increases year on year, we also have to pay them a commission for allowing them to nominate our insurer.  We pay them a ground rent each year.  They dictate what can and cannot happen at Rockingham Court. Perhaps more importantly however, is that after the term of your lease has expired, the property reverts back to the freeholder, and you are left with an expired lease and no property!  I personally see no benefits to having a freeholder.  The decision to buy your own freehold (or indeed that of leaseholders who do not wish to buy their own), so you in effect become their landlord, should be your own decison to make.  I personally do not think the Board should be allowed to refuse this on our collective behalf; currently the remaining directors are not in favour of the purchase of our freehold; that of course is their perogative, but is not representative of all 78 leaseholders at RC.  Please do not be afraid to find out more information about this, as if you are offered the freehold purchase, you should be well enough informed as to the pro's and cons of such a purchase, and not be swayed by gossip or misguidance.  Freehold property is seen as a more attractive purchase to property buyers, and the property value (it is termed the marriage value which is essentially the value of your property as it is now, plus the added value of the freehold status) could be increased, which is always a good thing!  If enough leaseholders are interested, even just to hear more about the concept of owning your own freehold, or collectively (Collective Enfranchisement), then I think we should convene an EGM to discuss the options and hear from experts in the field; and perhaps from leaseholders who have undergone the process of freehold purchase.  Please send an email or post your comments on here.