Breach of lease help

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    #16
    They have got you over a barrel, as a result of your own breach of covenant notwithstanding that they are being tough, probably tougher than I would be in the circumstances. The Governing body you are looking for is called the Courts. The best thing you can do is get the two leases drawn up, even if you have to borrow the money to complete and then you are sorted to procede with such sales as you may wish

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      #17
      May I ask how much your freeholder is asking as a premium for all of this? The reason that I ask is that you do (after all) stand to gain a bit of a windfall from being able to sell two flats and not just one...

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        #18
        "..completed and signed off with all their correct certificates" - Who were responsible for confirming completion, signing off and certification of these two properties?

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          #19
          Originally posted by flyingfreehold View Post
          They have got you over a barrel, as a result of your own breach of covenant notwithstanding that they are being tough, probably tougher than I would be in the circumstances. The Governing body you are looking for is called the Courts. The best thing you can do is get the two leases drawn up, even if you have to borrow the money to complete and then you are sorted to procede with such sales as you may wish
          Thank you, they have said they are drawing up the leases and they'll be finished in a few days. But they've been saying this for 5 months.

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            #20
            Originally posted by Lorimer View Post
            May I ask how much your freeholder is asking as a premium for all of this? The reason that I ask is that you do (after all) stand to gain a bit of a windfall from being able to sell two flats and not just one...
            They are asking for all costs to be paid, solicitors, extra surveyors, valuation etc.. This totals £25,000 plus their premium for retrospective permission which is £115,000 so a total of £140,000.
            After the cost of the conversion, planning, the freeholders 'expert witness' report, our marketing and solicitors... And mortgage... We stand to earn a profit of 50,000£.the reason we w not ahead is that both flats below us did the same.. But with the correct the permission...(which we thought we'd had)

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              #21
              Originally posted by DOK View Post
              "..completed and signed off with all their correct certificates" - Who were responsible for confirming completion, signing off and certification of these two properties?
              We had a reputable contracting from, a local building inspector, the council and planning department. Three other separate surveyors and regulators appointed by the freeholder and a sound engineer.

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                #22
                Sounds like you already had consent to me. However, I'm not sure if the FTT would be willing to rule on this.

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                  #23
                  Originally posted by Mellifluous View Post

                  They are asking for all costs to be paid, solicitors, extra surveyors, valuation etc.. This totals £25,000 plus their premium for retrospective permission which is £115,000 so a total of £140,000.
                  After the cost of the conversion, planning, the freeholders 'expert witness' report, our marketing and solicitors... And mortgage... We stand to earn a profit of 50,000£.the reason we w not ahead is that both flats below us did the same.. But with the correct the permission...(which we thought we'd had)
                  And were you provided with a breakdown of what the 115K premium comprises or was it just a random figure plucked out of the air? Do you have evidence that the other leaseholders paid a lower fee than this because their consent to alter applications were not retrospective?

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                    #24
                    Originally posted by Lorimer View Post

                    And were you provided with a breakdown of what the 115K premium comprises or was it just a random figure plucked out of the air? Do you have evidence that the other leaseholders paid a lower fee than this because their consent to alter applications were not retrospective?
                    No there wasn't a breakdown, it was labelled as 'premium for retrospective building consent'.
                    the best we can work out is the difference of current market value of both minus the purchase cost of the original flat and divided by two.
                    All Construction costs were asked for, invoices and complete breakdown. We thought they would minus these figures from the total, but they weren't included in their calculation...(I'm assuming) at all.

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                      #25
                      Originally posted by Lorimer View Post

                      Do you have evidence that the other leaseholders paid a lower fee than this because their consent to alter applications were not retrospective?
                      no, we don't have any evidence of how much they paid, they also haven't sold their flats. They're all rented.

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                        #26
                        The usual formula is a 50/50 split in the profit. I think maybe an application to the FTT is in order. Just I'm not sure if development is something they can rule on.

                        An alternative is just to let the flats until freeloader is willing to play ball.

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                          #27
                          Originally posted by JK0 View Post
                          The usual formula is a 50/50 split in the profit. I think maybe an application to the FTT is in order. Just I'm not sure if development is something they can rule on.

                          An alternative is just to let the flats until freeloader is willing to play ball.
                          What is the FTT?
                          Are we allowed to let them? We are currently 'living' on one and the other is on the market...

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                            #28
                            I have just been thinking... There is an outstanding surveyors invoice for a valuation the freeholder requested, by a surveyor they chose. I have confirmed myself and through my solicitor in writing that as money is very tight the invoice will be paid on completion along with the freeholders premium.
                            Could this be the hold up?

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                              #29
                              Good grief. The FTT is the First Tier Tribunal. Google it.

                              Not sure that I would be paying any more made up invoices until freeloader started playing ball.

                              Regarding your question about letting, what else are you going to do?

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                                #30
                                Originally posted by JK0 View Post
                                Good grief. The FTT is the First Tier Tribunal. Google it.

                                Not sure that I would be paying any more made up invoices until freeloader started playing ball.

                                Regarding your question about letting, what else are you going to do?

                                Thank you... I did google.... In fact I'm an avid googler.. And all that came up was financial transaction tax ...FTT


                                On my lease it states I have to have consent to sub-let..im assuming if I ask I won't get a reply......

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