Thefreeholdcollective Reviews

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REVIEW of The Freehold Collective

REVIEW of The Freehold Collective12 June 2024Review of The Freehold Collectiveby a co-director of HHC Freehold LtdFrom the outset of trying to acquire the freehold for our 94 residential flats finished in 2021 I along with another owner who led the initiative recognised the formidable challenges ahead We searched for and found a specialist company The Freehold Collective to help us navigate a way forwards that would safeguard the interests of the participating owners and their financial commitment At every stage The Freehold Collective CEO and his colleagues have been available 24 7 to answer questions we as the lead leaseholders have had The Freehold Collective hosted free zoom meetings open to all owners and answered individual questions provided paperwork illustrating advantages of freehold acquisition procedural stages and some estimates for administrative and legal costs The company helped us find a surveyor a specialist solicitor and an accountant We were also helped to find investors to cover a substantial shortfall and for a separate solicitor to represent them We were free to make independent choices Since a 100 room hotel shares our site with the two apartment blocks and underground garage there have been numerous challenging issues These have included a flawed original Section 5 Notice served by the freeholder s staggeringly incompetent solicitors offering us a property in another location altogether the freeholder s inability to provide crucial documentation the freeholder s solicitors inexplicable inability to comprehend numerous aspects of the process the freeholder going into administration a year and six months after the process had started in June 2022 All the warranties and indemnities previous agreed with the freeholder were withdrawn and the documentation had to be substantially revised We have had to consider the changed market value of the property since June 2022 and what implications there may be from the Leasehold and Freehold Reform Act 2024 This has been a complicated process in which engagement of the specialist company The Freehold Collective has been of enormous value to the two lead leaseholders both who are unpaid volunteers The ultimate benefits of freehold acquisition for participating owners are obvious such as the removal of ground rent and having the authority to make decisions about the management of our own property The 2024 Act and secondary legislation may help to make freehold acquisition easier in the future but there remain many complexities to be resolved with implementation of the new laws and then each property has its own elements which also have to be considered anyway Mike Paterson

Mike and John work well as a team

Mike and John work well as a team very knowledgeable and switched on Fast to reply

Great advice

Very knowledgeable team with great advice

Direct and rapid response

Direct and rapid response Thank you Mike

Very professional

Great communication Very knowledgeable Quick response times

Award Winners

Have known Mike and John for many years they have won awards for thereFreehold work Trust them with confidence