Owning your own home

My understanding is that most leaseholders of leasehold houses have a right to buy the freehold. They are entitled to exercise that right and then due legal process can happen and - if necessary - the courts will determine whether or not the leaseholders do have that legal right. Who on earth refuses to exercise their legal rights because of what their opponent's legal advice is allegedly says?

I believe this is correct for leasehold flats, but owners of leasehold houses have fewer rights in law. Flats can force their freeholder to sell (or take up the right to first refusal); houses can't.

But you're right that this is being portrayed as being worse than it is. Sure, the leases are short, and sure, the freeholders are refusing to extend them. But all the leaseholders need to do is take the freeholders to First Tier Tribunal - there's a statute in law that says Freeholders must be reasonable - by refusing to extend they are being unreasonable.

So yes they're not worthless. If this situation went on indefinitely they'd become worthless. But really they've just got a bit of legal wrangling ahead of them and BAM they're back in the black.

I had a similar thing with my place. No way could I afford where I live if the freeholders weren't such dicks and scared all the buyers off. I thank 'em - it's a discount on the house price with the proviso that I've got a bit more graft to do after moving in than I would otherwise. Fine. Just got to walk into these things with eyes open.