£40m spent on Enfranchisement in 2012 

Flat owners and their building-owning landlords rely on the advice of valuers, solicitors and barristers to advise them on freehold purchase and lease extension claims. The survey, which for the first time gives an indication of the size of the UK market, suggests a bustling industry as flat owners are eager to take advantage of legislation which allows them to collectively buy their freehold or extend the leases on their flats.

Greenslade continued: “On the subject of fees, half of all valuers charged £1,000 or less (plus VAT) for each case, but this is not true for any solicitors. Nearly all of them charge between £1,000 and £5,000.”