Solicitor & valuer advice

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  • C@johnD
    replied
    Hi all,

    Thanks for am your input. Apologies for the delay but had to attend to a personal matter that drew my attention away from my leasehold extension intentions.

    I purchased the lease from the first leaseholder, who was granted 125 years with £10 per annum ground rent. Correct, I purchased with 104 years remaining.

    Ultimately my wife would go on as joint tenants.

    I will be getting on this again now and do as you suggest - hit Google and compare reviews, and send an inquiry to Louis Burn. In the meantime I have reached out to Capulet who have responded with additional queries and promised to post a formal proposal shortly.

    Thanks Again!

    Leave a comment:


  • sgclacy
    replied
    I would assume that as you bought the flat with 104 years it probably started life out as a 125 year lease

    IF I am right in that regard therefore the rent would be probably be no more than say £200 rising again in say another 14 years

    therefore very very roughly I would guess the premium will be of the order of 1.25% of the value of the flat plus 20 times the ground rent plus of course costs

    as time is on your side and the outlook on property valuers somewhat bleak I would approach the freeholder and see what terms they offer - they be wholly reasonable and do a deal for cash now - but equally they might try to fleece you - you have nothing to lose at this stage in asking

    there is a specialist firm in Croydon who deal solely with lessees and not only do the valuation but also the legal aspects -leasehold solutions owned by Louis Burns who is well known in the field

    Leave a comment:


  • Section20z
    replied
    Originally posted by Tipper View Post
    Are you the first leaseholder? Or did you buy the lease from a previous owner?
    He just wants a lease extension so not sure of the relevance of your question but being there is 89 years left and he has had it 15 years, it would be very unlikely he is the first lessee as that would be a 104 year term !

    Leave a comment:


  • Tipper
    replied
    Are you the first leaseholder? Or did you buy the lease from a previous owner?

    Leave a comment:


  • TruthLedger
    replied
    Best value is, probably, going to be if you do a look up on google since you'll get access to multiple sources with reviews. Then, there is whether you want to do it online versus physically going into a building. Personally, I prefer the online route because it's cheaper, more convenient and less hassle since you won't have the pressure of face-to-face. At home, you will have time to take in the information and cross reference the information you are told.

    Is your other half and yourself planning to sign up as tenants in common or joint tenants?

    Leave a comment:


  • C@johnD
    replied
    Ok thanks! Apologies if I've been inappropriate, I just don't know where to turn for referrals as I don't know anyone who has ever been in my position.

    As for local firms versus non-local, is the only real advantage proximity to show ID, etc? Cost of travel versus high fees may make it worth it... thanks, I'll bear it in mind.

    Leave a comment:


  • Section20z
    replied
    Hi John, I think it's frowned upon to name companies on this forum so post may get removed but I use Margaret Ilori of Capulet Solicitors, not far from you who gives a good personal service and is familiar with leasehold law.
    Advantage of a local firm is you may need to attend and show your ID.

    Leave a comment:


  • C@johnD
    started a topic Solicitor & valuer advice

    Solicitor & valuer advice

    Hi all,

    I'm new to the site, so I hope I'm posting to the appropriate forum.

    I am looking to extend my lease. I live in London SW14 (Mortlake/Barnes). I have 89 years left on the leasehold, and I've had the lease for 15 years. I'm recently married and ultimately want to put my wife on the lease, but that would reset ownership of the lease from the current 15 years to zero. Hence why I want to extend the lease before putting her on the deeds.

    Basically, I'm looking for any referrals for specialist leasehold extension solicitors and surveyors. Please feel free to share your experiences, good or bad and point me in the direction of a turn-key firm or independent solicitors and surveyors you would recommend.

    Furthermore, I have read conflicting opinions about "going local". Being in London I suspect a local professional(s) would cost more... but would they perhaps offer more value?

    Kind regards,

    C@JohnD

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