Hi all.
My dad lives in a leasehold property and has been informed (only verbally at this stage) that he will not be entitled to renew his lease, but the freehold will be available to purchase for a (frankly extortionate) sum - the figure they have indicated is equivalent to more than 300 years ground rent!
I believe the lease expired a while ago, so effectively there is no lease left to run on the house.
I am having a quick look on the leasehold advisory service website, but it's all quite complicated.
I've told him to sit tight and wait for something to arrive in writing, then he will need to consult a solicitor.
Has anyone got any advice in the meantime? Any rough rules of thumb for calculating the price of a freehold?
