About to apply to the LVT: lease extension

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    About to apply to the LVT: lease extension

    Hi - I'm in the process of extending my leasehold. Hope you can help - there are 4 questions in here.

    The S42 was served, there's been no agreement, and there is now about 1 month left until the 6 month deadline for applying to the LVT runs out. I therefore need to apply to the LVT very soon.

    1. Am I right in thinking it is this form?
    From RPTS site: (sorry I can't link to it as I haven't made enough posts)
    Part IV Landlord and Tenant Act 1987
    Application for the variation of a lease or lease

    I'm out of the county and my solicitor will fill in the form.
    2. Do I however have to sign it myself, or can it all be done by him without any signature from me?

    Also the form says that a 'copy of the lease' needs to be sent.
    3. Would they need a photocopy of the whole lease? It is quite a big thing!

    There is the slight problem that the lease is in the UK and I am abroad.
    4. Any suggestions on what I can do about that?

    Thank you for your help.

    #2
    Try to settle. You are about to enter open cheque territory! Beware that formal proceedings will cost you as much or more than the amount typically in dispute!
    Has the landlord got a surveyor? If your surveyor has locked horns and reached an impasse, get on the phone and find out how far apart are the parties.
    Lease extensions are getting progressively more expensive.
    The cost of litigation can be huge.

    A client of mine was charged recently £4,500 plus VAT for counsels' services appealing a wrongful LVT decision and the Enfranchisment surveyor's charges were not much less. The solicitors fees for preparation were similarly colossal.

    As with so much in English law you can win the case (as did we) but lose overall on costs! The state of the art in determining the premium correctly payable is that in the past LVT decisions have on occasion been too low and that previous settlements are not authoritative. In a difficult sales Market the hypothetical buyer is more discerning as to the demerits of a short unexpired lease and we are in a strongly rising Market as to what should properly be paid on the assumption fully reflected in such calculations there is absolutely no right to extend.

    The solicitor can almost certainly obtain a copy of the lease from the land registry.

    Comment


      #3
      This is the guidance booklet

      http://www.rpts.gov.uk/pubs_and_form...nchisement.pdf The form you are refering to is I think the one for section 35 varying terms. I suggest you contact the local office and confirm with them.

      Yes they need the whole lease. Go to HMLR and download a copy of your lease.

      If you are abroad and feel limited in handling it then instruct a local advisor.

      QD is absolutely right. It might cost you more to win that it does to give in.
      Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

      Comment


        #4
        Thanks for the compliment, leasehold answers. Our experience is that in a sustained ultra low interest rate environment, premia are significantly higher than would have been agreed a few years back with other factors being equal.
        I'd be interested to know others' experience, but mine is that well over 90% Of lease extension enquiries are settled informally. Some reversionary landlords, and more particularly the advisors on both sides, however, are not as pragmatic in seeking to settle!

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