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ive seen a flat which i want to buy but theres no management compnay how do i obtain a mortgage and whats the best way to appoint a mangement company if i get it?
thanks guys
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ive seen a flat which i want to buy but theres no management compnay how do i obtain a mortgage and whats the best way to appoint a mangement company if i get it?
thanks guys
Well, someone must own freehold reversion. If no mgt co, start with f/r's identity.
You yourself cannot alone appoint mgt agent, even once you purchase leasehold, but collective lessees could exercise "right to manage".
JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
4. *- Contact info: click on my name (blue-highlight link).
great, i'll see to a f/a about proceeding with a mortgage
...and, if f/r and/or mgt co still missing, your solicitor can arrange indemnity insurance on your behalf. Its cost depends on purchase price-
i. absentee L cover is from £75 (pp up to £100 000) to £350 (pp from £750 000 to £1m); and
ii. block lack-of-mgt cover is from £165 (pp up to £60 000) to £800 (pp from £750 000 to £1m).
JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
4. *- Contact info: click on my name (blue-highlight link).
What does your lease say regarding your responsibilities?
My lease has similar restrictions regarding not making alterations and not cutting/injuring walls and floorboards, but also requires me to keeping a good state of repair, and renew when necessary, things like the bathroom and electric wiring...
I’ve seen this question come up before, but I couldn’t find a topic specific to this question;
we have bought a leasehold flat which needs major work. I have submitted drawings to the freeholder for their permission to put up a wall and make a new door way, BUT…
changing the kitchen...
The word “structure” is definitely misused in lease agreements. If the word “structural” is used then this could refer to load bearing walls, but the word “structure” is fairly ambiguous. Even though a partition wouldn’t technically be “structural”, it could still be considered “structure”....
Removing walls between rooms can compromise the fire compartmentation and escape routes from of the flat. You should be careful not to put yourselves or others at risk....
Removing any wall is a structural alteration (regardless if its plasterboard it can still be load bearing). I would always want to see full plans and structural engineers report before granting consent.
Risks to freeholder are just too great....
The flat above one of our tenants has caused two separate water ingress issues to the flat below June and August, the issue is apparently either a faulty slow leaking stop cock or washing machine. They have asked to see a plumbers report and apparently there isnt one .The MA said no insurance claim...
Starlane should ask for a claim to be made to see what the MA comes back with.
It comes down to what the tenant's repair clause, the landlord's repair clause and the insurance provisions in the lease say and how they interact. Can you set them out for us, Starlane?
You aren't actually wrong. The damage caused so far may be below the excess, so not worthy of a claim. If remedials are above the excess the MA should put you in touch with the broker/claims portal. Unless it's affecting the common areas the MA will deem it a flat to flat leak, so isn't their immediate...
No, i did'nt but i know of neighbours who did..... but they were just plasterboard walls to separate the lounge from the kitchen to make it a little more..... open. So certainly no supporting walls that would require steel etc. I would say that anything requiring more than a joiner would be a no, n...
What can a freeholder do to a leaseholder who is subletting to a subtenant that is causing nuisance to the adjacent neighbours (anti social behaviour).
Steps Taken so far:
1) A police complaint against the subtenant has already been raised by the adjacent neighbours. ...
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