Purchasing the freehold to a leasehold property will make it more marketable, easier to re-mortgage and prevents the diminution in property value with the decline in remaining lease term.
Leaseholders may have the statutory right to purchase the freehold with their neighbours even if the freeholder does not consent. The legal term for this is Collective Enfranchisement.
By contrast a freeholder will generally be required to offer the leaseholders "Right of First Refusal" if they wish to sell the freehold.
Freehold purchase or sales may be negotiated informally, or enacted via the relevant statutory process.
Pro-Leagle offer a range of freehold purchase and sale services with transparent pricing.