Under "Collective Franchise" legislation, as flat owners we are being offered the freehold to the 18 flats (3 blocks of 6) before it goes to auction.

As long as a majority of owners (10 in this case) want to buy, and we can raise the funds between us, we can go ahead.

However as flat owners we don't really understand the liabilities we might be taking on. There are the usual collection of paths, common walls, garages, drying areas etc.

As a Health and Safety Manager, the H&S aspects don't worry me, but are there any other responsibilities we need to worry about?

Is there anyway an unscrupulous freeholder could monetise the freehold, if it doesn't fall into our hands?

Finally, is the anyway, given a 999 year lease 50 years in, fixed ground rent of £15 per year per flat (£270 per year total!), we can put an approximate value on the freehold?

Many thanks in advance!