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Have tried weighing up the pros and cons of that before. I'm not convinced the benefits are worth the hassle, particularly since the owner of the ground floor flat (it's only the two) doesn't live there and I don't want to be responsible for running everything.
Other than this lease extension thing (which is a one-off) there's no significant costs associated with the freehold. No service charges etc., just the relatively insignificant ground rent.
Brun-
How much is there to run in a converted house? I'm in the same situation as you and pretty much the only thing we do is buildings insurance (which is about the same price as your ground rent).
Admittedly the lease does have us responsible for the top and bottom half of the house respectively so there are very few communal areas but that hasn't worked out too badly as I've combined roof works with a loft conversion which the other freeholder has no issue with.
aggi
That’s a similar amount to the cost of us buying our freehold through collective enfranchisement- is that an option for you?