We bought the freehold of the first house we owned, if I recall it was 10x the ground rent which was £15 per annum at the time. Even with owning the freehold you may find restrictions in the form of covenants that limit the number of "farts" you are allowed. Our bungalow is freehold but the previous owner had to stump up a £400 "administration fee" to the original developer to add a conservatory due to the developer selling the property with restrictive covenants that gave him a say on what could or could not be built. Whilst these things are useful at the time of development and prevent householders constructing horrendous structures affecting the value of the properties, 40 years on its just a "nice little earner" and of course is something that can be passed on to descendants who probably do not know what it is all about but brings in a little income for basically doing nothing.

Richard