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[sgclacy]

Assuming the flat is worth £270k and the ground rent is £250 doubling in 6 years to £500 and doubling every 25 years thereafter the premium for a lease extension would be around £13,000. A ground rent of that size may attract a capitalisation rate of 5% to 5.5%.

In addition, there are...

[sgclacy]

If you are not being charged a premium for the lease extension and that was also the case when the others extended their leases once having acquired the freehold then I see no reason why one solicitor cannot deal with the lease extension exercise for the company and you...

[sgclacy]

At present

If the rent is discounted at 6% then the NPV of the rent is £3,283

The landlord might push for 5.5% which would value the income stream at £3,806 and your surveyor may argue for 6.5% making it £2,872

Added to this would be 0.467% of the value of the...

[sgclacy]

Duplicate post - sorry...

[sgclacy]

Technically the prosecution would be for a criminal offence - the prosecution would be brought by the Local Authority - although I suspect as funds are very limited, and it's not a flagrant attempt to ignore the section 5 laws and as far as I am aware there have been no prosecutions under the Act it...

[sgclacy]

What are the ground rent terms ? They appear to be indexed linked.

The idea I have suggested should enable your nightmare to come to an end in a matter of a few months.

It appears you are considering taking no action and then seeking to recover the freehold from the purchaser...

[sgclacy]

What is the ground rent review pattern for the various leases

Aside from a legal bill perhaps of say £1,000 from your solicitor I see no downside in you reserving your rights. As you know if you decide not to proceed and withdraw 28 days after then no costs are recoverable from you from...

[sgclacy]

Yes they can if they believe that is in the best interests of the company's shareholders.

I suspect that in most cases such as this the directors cannot defend that position and their decision was based on personal interests ( i.e. not wanting the disruption or a perceived fall in the flats...

[sgclacy]

Whatever your legal costs were in communicating your acceptance

how much tine do you have before the auction...

[sgclacy]

In most leases you are granted the inner surface of the wall and the fabric of the wall is retained by the freeholder

Therefore, whilst alterations within the flat can be done and the landlord in almost all cases cannot unreasonably withhold consent that does not apply to the fabric of...

[sgclacy]

If you want to send me the title number (or the full postal address) as a personal message I can immediately look up the Land Registry records to see if an application has been lodged - it costs me nothing- it can sit there for months but if it has been lodged that is all you need to be concerned w...

[sgclacy]

You could do a deal with an investor who would buy the freehold interest to the houses at the same time you have to complete on the purchase

I may be that investor - send me a personal message

If that would solve your problem then you should reserve your rights and you may...

[sgclacy]

Your neighbours may be getting confused with the appointment of a manager by the FTT . Any lessee can make an application to the FTT, after serving a final warning notice on the freeholder to comply, requesting the FTT appoint a suitably qualified manager to undertake the management of the property...

[sgclacy]

You could extend the lease on the flat being owned by the elderly relative and have in the deed that the premium is to be paid on or before say 15 years time into the future OR when the lease is assigned if sooner

It is important that you allocate the purchase price between the three interest...

[sgclacy]

On whose advice?...

[sgclacy]

How much is your flat worth ?

[sgclacy]

You might as well issue the claim online and if you get judgment in default you can then approach the mortgagee who will settle...

[sgclacy]

They are within their rights to refuse permission. The comments from the grandchild are incorrect but does not alter the fact that permission does not have to be granted. In most cases alterations within the demise of the property will usually be covered by the requirement that the landlord’s consent...

[sgclacy]

Remember a Right To Manage Company does not have the power to start forfeiture proceedings, it must notify the landlord of any arrears that are more than 3 months old and request the freeholder takes action indemnifying him fully on costs

The matter clearly needs to be resolved and I do...

[sgclacy]

Refer the matter to the FTT - these days it is likely to be done by a paper review or a zoom meeting...