Expiring Lease on House

  • Filter
  • Time
  • Show
Clear All
new posts

  • #46
    Originally posted by leaseholdanswers View Post
    But my answer, quoted, was in response to a differer question, no this one....

    RD value to a landlord, though minimal in this case it seems, affects a negotiated surrender, the landlord gets his sticky mits on the site much sooner. He would likely pay a premium for that.
    Perhaps I got lost in the threading, but I thought that you were responding to me when I asked (something like):

    "Why would the RD value to the FH be worth more than the current value to a new buyer who can afford to buy the FH".

    And I still don't see the relevance of the 50 year extension to this question - because the new buyer is not going to take the 50 year extension he's going to exercise his rights to buy the FH (albeit after a 2 year wait)



    • #47
      its a good question. There are a number of reasons based on the nature of the buyer, hope value, marriage value (not in the FH/LH) sense, finance and transactional costs,and the different valuations between an open market sale and enfranchisement.Opportunity cost in the yields also factor in.

      In any given situation they might be the same or more advantageous to another buyer. That's why its important to have a valuation done so as to assess the position on any particular house. You might even come across restrictions on the house for development which the freeholder might not enforce on themselves, but a new freeholder might still be bound by as a restrictive covenant.
      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.


      Latest Activity


      • Breakdown of LA costs...
        As a LL am I able to insist on seeing the breakdown of costs each quarterly bill?
        We appointed a new Agent to manage the property and now only get one figure on the bill to be paid. Before we received a full breakdown of each item such as gardenng, lighting, insurance, postage etc
        20-08-2017, 17:49 PM
      • Reply to Breakdown of LA costs...
        It is the lessor for the long lease (often the freeholder) that should be providing the breakdown. You have to request it, and they may have up to six months to provide it. Your service charge demand should contain a statutory notice, explaining this and without that notice, the demand has the same...
        21-08-2017, 17:33 PM
      • Excessive Communual repair works - New Landlord
        Hi There,

        I'm hoping you can help. First time posting but getting desperate. I'm a part owner of 3 flats out of 4 that are situated above a takeaway in a building. Recently we have a new landlord who has paid to have a fire safety check completed and also an assessment of the external...
        21-08-2017, 12:26 PM
      • Reply to Excessive Communual repair works - New Landlord
        Section 20 notices are for works, not necessarily improvements.

        Unless there is a long term contract in place, the first notice should precede the obtaining of quotes.

        The lessor needs to reply. They have to respond within 21 days, but you only have 30 days to make observations....
        21-08-2017, 17:27 PM
      • Reply to Breakdown of LA costs...
        Thanks, it is for an entire block of 18 apartments. I am LL to one of these.
        21-08-2017, 17:25 PM
      • Reply to Breakdown of LA costs...
        Is this an agency managing a single residential property in which you have a tenant? Or is it an agent looking after the leasehold for a block of flats?
        21-08-2017, 10:06 AM
      • Ground rent rpi base

        Hopefully an easy question but does anyone know if when the ground rent is rpi linked is it from when the leasehold was set up or when you purchased the property. I.e if leasehold was set up in dec 12 but the property was purchased in Sept 13 is the base from dec12 or Sept 13?...
        20-08-2017, 08:48 AM
      • Reply to Ground rent rpi base
        Thanks for the above . V useful knowledge there
        21-08-2017, 07:42 AM
      • Clarification on lease and recovering costs
        Please can someone clarify the meaning of this section of the lease;

        "to indemnify the landlords against all costs charges and expenses (including legal costs and fees payable to any surveyor) which may be incurred or be borne by the landlords
        (a) in or in contemplation of any...
        20-08-2017, 11:45 AM
      • Reply to Clarification on lease and recovering costs
        We are due to attend the FTT on the breach of covenant so if they deem the breach to have occurred then I am thinking (b) could apply. In any event I think (c) would apply as the costs have been incurred in pursuing the leaseholder to remedy the breach and repair the property back to it's original state....
        20-08-2017, 20:37 PM