Long Leasehold Questions

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Started by leaseholdanswers, 29-05-2014, 08:36 AM
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Started by theta, 25-09-2020, 07:56 AM
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by theta
 
Started by mikkimolly, 25-09-2020, 15:10 PM
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Last Post scot22
by scot22
 
Started by Bengt Lagander, 24-09-2020, 14:33 PM
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Last Post flyingfreehold  
Started by Andrew Clark, 23-09-2020, 08:02 AM
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Started by charlie8899, 23-09-2020, 08:05 AM
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Started by batterseaboy, 23-09-2020, 16:43 PM
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Last Post scot22
by scot22
 
Started by Deneb, 28-01-2020, 21:13 PM
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Started by cjramona, 22-09-2020, 13:06 PM
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Started by Anna1985, 25-08-2019, 18:30 PM
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by sgclacy
 
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Started by ETB, 21-09-2020, 22:15 PM
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  • Lease extension - should I pursue non statutory?
    by theta
    I received a section 42 notice for a statutory lease extension for a flat where I own the freehold. There are 87 years remaining on the lease, and ground rent review is every 10 years linked to RPI (next review 2027).
    My appointed managing agent recommended a solicitor with experience on this,...
    25-09-2020, 07:56 AM
  • Reply to Lease extension - should I pursue non statutory?
    by theta
    It's not doubling every 10 years, it's reviewed every 10 years in line with RPI....
    25-09-2020, 20:49 PM
  • Reply to Lease extension - should I pursue non statutory?
    by theta
    Not 23 years, I mentioned 200 years instead of 90, and I could have said 1000 years, that's not really the point.
    The point is that the statutory route prescribes a specific lease extension, leaving only the price up to negotiation.
    I'm considering offering an alternative that could be a...
    25-09-2020, 20:43 PM
  • Reply to Lease extension - should I pursue non statutory?
    by flyingfreehold
    let the stat extn take its course. ten year doubling ground rents are unconscionable, the maths is that they equate to a 7.% annual compound. The traditionaly 33 year doubler is equivalent to an annual compound rate of 2.12% and 25 yearly equals to 2.7% compound rate. I am pretty sure the Government...
    25-09-2020, 20:37 PM
  • Reply to Lease extension - should I pursue non statutory?
    by MrSoffit
    So one of your lessees has instructed and paid a solicitor and presumably a valuer too to exercise a legal right to have a lease etxension +90 years (87+90 = 177 years) with peppercorn ground rent - and you ask here if there is any danger to you cutting through the legal process and offering an informal...
    25-09-2020, 19:48 PM
  • Front garden to parking
    by mikkimolly
    I have a long lease on a flat in a Victorian converted building with a demised parking space on the driveway. The Landlord is currently selling the two other flats in the building, which previously were tenanted. To make them more profitable he has concreted over the front garden to create a parking...
    25-09-2020, 15:10 PM
  • Reply to Front garden to parking
    by scot22
    I would object. Nobody should be allowed to ignore the lease. He has taken away an amenity. Where will water drain that went on the garden.

    I'm sure if you wanted to do something that increased the value of your flat he would want compensation.

    I would politely inform him...
    25-09-2020, 19:00 PM
  • Reply to Front garden to parking
    by nukecad
    You could challenge it but what do you hope to gain by that?

    Have you actually been deprived of anything other than a notional right to common space?

    Your quotation marks do not make it clear what the lease actually says; I'm guessing that you have missed parts out?
    25-09-2020, 18:41 PM
  • Reply to Lease extension - should I pursue non statutory?
    by sgclacy
    My approach would be this

    I would write to the solicitor acting for the lessee offering to extend the lease term and keeping the ground rent the same and if they accept that offer there will be no valuation fee just your legal costs. The deal to be completed before the expiry of the time...
    25-09-2020, 15:11 PM
  • Reply to Lease extension - should I pursue non statutory?
    by Section20z
    Good point about section 42, you would need firm deal before the 2 month deadline. I wonder if you might be better off with the statutory route (after getting your own more favourable valuation) . You never know if a future Labour government might abolish ground rent altogether...
    25-09-2020, 10:25 AM
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