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[Gordon999]

L64, Thank you for explaining . But the voting structure does not seem right for a genuine RTM Company....

[Gordon999]

If your question was about the interest rate Libor +3.25%, Libor rate ( for 3-6 months ) is currently about 0.905 %.

So you are paying approx 4.2% interest rate and I would expect you get notification of new rate from the bank.


If you can change to a 5 years...

[Gordon999]

I found this on the pimco website:
SOFR and other alternatives to Libor: recent developments

Over the past year, industry leaders and regulators have articulated tangible steps to implement alternatives to Libor, laying the foundation for markets to reference and build liquidity around...

[Gordon999]

Does the Lease agreement say the"Lessor" or "Management Company" shall include concierge service ?

[Gordon999]

Voting in RTM Company is limit by guarantee and there is usually one vote per leasehold flat

https://www.lease-advice.org/advice-guide/right-manage/

[Gordon999]

yes, freeholders can refuse consent to alterations and you should all sign some letter and send it by registered post to the new leaseholder.

[Gordon999]

You have £300 per month surplus money and can reduce your mortgage loan by £3600 in one year.

On your residential mortgage , you reduce your loan by £3600 and saving £72 interest ( at 2% ) next year

On your BTL mortgage , you reduce your loan by £3600 and saving £144...

[Gordon999]

Tatemono,

I suggest you download the Property Notes for HMRC Tax Form SA105-2018 . and read the Sections which explain box 35 and 36

https://assets.publishing.service.go...Notes-2018.pdf

[Gordon999]

The seller may ask a local surveyor to issue a certificate to confirm whatever is missing or alternatively you withdraw from the purchase of the property or offer a lower price to cover the risk....

[Gordon999]

The govt website shows council tax exemption may be available for students, dis-abled persons and vacated property. But no mention of armed forces or navy personnel.

https://www.gov.uk/council-tax/who-has-to-pay...

[Gordon999]

Not available for property covered by AST letting.

But when property is operating as Furnished Holiday Lets, there is CGT relief for initial furniture and furnishings.

[Gordon999]

If you check the records at Companies House. you will find A & H have the same directors and shareholders.

[Gordon999]

I don't expect the Police will investigate but if you can quote a Police Station Compliant No. , it may help you to pursue an insurance claim

[Gordon999]

Usually the clause for registering a document with lessor's solicitor within 30 days and pay a 25 pound fee applies if it concerns the property title. My understanding of a sub-lease is an agreement which transfers the obligations of the tenant to the sub-tenant, the AST does not do this.
...

[Gordon999]

Report the loss to the local police station and try to claim loss against the building insurance policy or against management company liability insurance?

[Gordon999]

Yes , and Section 7.12 in the RICS Code applies to your situation .

But if the building comprises of only 3 flats , the summary of the annual accounts should be quite simple and auditing by accountant is not a legal requirement.

You should call an annual meeting for...

[Gordon999]

The wording which covers your situation is :

"no such consent shall be required for an underletting of greater than 6 months but less than three years in the form of an assured shorthold tenancy".

So no consent required. But I suggest you offer AST for "one...

[Gordon999]

It sounds like you want to eat your cake and still have it.

In your situation, you can only afford to buy one property either in company name or in personal name, you cannot do both.

[Gordon999]

You are very brave in wanting to buy before knowing the outcome of Brexit.

If the site has only sold 30 out of 90 units since Feb, you could make a test offer to buy a new flat at your lower price and at NIL ground rent .

The Foreign Banks in London are already planning...

[Gordon999]

" Also, if i rent out (which would be long term) i guess id end up having to pay 28% capital gains tax. If i sell now, no gains tax.."

You said this and you should sell before the capital gain in your property is dragged down by brexit....