About to purchase share of freehold but confused about incoming legislation
Anyone clued up on the incoming changes to purchasing of freehold/commonhold and what it actually means? Or the best place to go for advice.
We actually had a good leasehold situation but the freeholder is now selling up and we have the chance to purchase a share at what seems a decent price. It's a converted house and all property owners in the building are interested. Obviously owning the freehold puts us in a much better position to sell in the future so we are keen to move ahead. We're just about to contact a solicitor, the freeholder wants things done asap.
However, now I'm wondering if I'm missing something with all the changes about to be brought in. Will commonhold end up better than a share of freehold? Would buying the freehold now have some sort of repurcussion in a couple of years?
There is no ground rent so that's not a factor.