Sunday Times Report 7 Aug 2022 ( on Welsh holiday lets.)

[Gordon999]

Here is my rough understanding of your situation :

1. Your purchase of the limited company for £17K in 2017 was probably entered in the company's accounts as funded by a "director's personal loan".

2. The limited company received £14K for granting...

[Gordon999]

If the wording in the lease does not state the boiler belongs to the lessor ( freeholder), then you can replace it without seeking consent from freeholder. Sometimes replacing old boiler may be a necessity if spare parts are no longer sold.

If you believe consent is required for boiler...

[Gordon999]

Ash72 is correct. Ground rent in arrears can only be recovered for last 6 years. The GR must be demanded and served with proper notice by the freeholder or agent or executor , otherwise payment is not due ( and you can refuse to pay interest) .

How many years remaining on the lease...

[Gordon999]

1. If you buy a leasehold house and hold for two years, you will be qualified to make compulsory purchase of the freehold title.
2. Buying the freehold title is better than extending the lease.
3. The freehold costs will depend on the years on lease and the annual ground rent.
...

[Gordon999]

I suggest you check :
(1) if the site plan shows boundaries corresponding to the property which you wish to purchase or larger and
(2) if site plan for leasehold land ( under 99 year lease) is for adjacent sites .

[Gordon999]

Its about having some evidence to show FTT, that the freeholder and local agent person are not found....

[Gordon999]

This report was about a retired solicitor living in Cardiff , with 2 holiday lets in Solva , Pembrokeshire. His properties only let for around 18 weeks a year but Welsh Government require 26 weeks letting to qualify for business rates. The increase in council tax to treble rate compared to rate...

[Gordon999]

C should make a complaint against B to the SRA ( Solicitors Regulation Authority )....

[Gordon999]

I was suggesting placing the ad for 3 weeks in the local newspaper of town , where the property is located. I was not suggesting placing an ad in a foreign country....

[Gordon999]

For a Ltd company with one property , all expenses incurred by the property, including loan interest , can be claimed against the rental income. Your accountant should advise how to divide up the expenses incurred.

[Gordon999]

For locating the address of "missing freeholder". it is normally recommended to place an advert in the local newspaper for 3 consecutive weeks.
After getting no response, you can make an application ( with copies of advert ) to FTT for determining the price to pay for purchase...

[Gordon999]

Under the leasehold property system, a leasehold flat has a leaseholder ( the tenant under the lease ) and a freeholder ( the landlord who is legal owner of the property )

A holder of a leasehold flat is required to pay annual ground rent and service charge to the freeholder, throughout...

[Gordon999]

Many years ago, I had a water leak coming from the flat above , which was not visible inside the flat above..

The leak was traced after it was noticed the leakage area in ceiling felt warm . The water was leaking out from underside of a copper tank ( hot water ) and fell through the...

[Gordon999]

You need to consult a solicitor in Scotland, regarding when the "life time tenancy" ends.

[Gordon999]

If you purchase a house under leasehold title, you become the leaseholder and subject to the terms of the lease. ( paying annual ground rent , building insurance and service charges etc).

But leaseholders also have right to enfranchisement ( purchase of freehold title) under the...

[Gordon999]

You are buying one title, not buying 5 separate titles...

[Gordon999]

Residential property usually sold under 99 years or 125 years leases have ground rents which increases after every 33 years or 25 years as stated in the lease. The Burnley Council case does not seem to be under a 99 year or 125 year lease. ....

[Gordon999]

Your lease is only a long term rental contract. You have no ownership in the building which belongs to the freeholder.

If you want to add a loft extension above the first floor, you should consider purchasing the freehold title first.

[Gordon999]

How many leasehold flats in your building ? North or South London ?

Under the terms of the lease, the freeholder appoints a managing agent (MA) to administer the service charge account and MA collects the service charge contributions from the leaseholders.

If you allow the...

[Gordon999]

Which part of England or Wales are you located ?

If you set up an RTM company ( which requires support from atleast 50% of leaseholders ) at your address , the RTM company can appoint a locally based managing agent ( under one year service contract ) to administer the service charge...