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[sgclacy]

Realistically, a commercial minded organization would, before incurring significant legal costs making an application, have nothing to lose by approaching the lessee and being prepared to offer slightly than the market price. Nobody will know of course what will happen, as it is some 55 years into the...

[sgclacy]

As I said earlier if a property is burdened with a ground rent of £300 - £500 per annum and it rises by the RPI or doubles every 20//25 or 33 years how is that the stuff of nightmares ?

We are regarded in a world stage to have a very advanced legal system and as seen as a safe place to...

[sgclacy]

In 55 years time, you may be faced with the possibility that the freehold is able to buy your flat at its market value.

You undertook that exercise in 2008 so if you were just 21 then this "problem" would concern you when you are 90 - if freeholder can satisfy the court about...

[sgclacy]

It is the financial burden that the ground rent imposes on the property that needs to be valued correctly.

The consumer credit act sought to value one financial product with another, by having the APR quoted to assist the purchaser make an informed choice. My proposal would be that the...

[sgclacy]

The changes to section 21 rights impinge on the management of BTL investments and does not effect rental streams or underlying capital values...

[sgclacy]

If a draft lease is presented to the proposed grantee and there is an initial rent of say £350 per annum then I fail to see why, notwithstanding that it is greater than 0.1% that this should be interfered with, Neither should clauses that seek to keep its purchasing power the same during the term be...

[sgclacy]

I agree - the idea that a ground rent of say £300 per annum linked to the RPI on a flat worth £225k is akin to a wrecking ball on the value of a flat is absurd. The campaigners have created a near hysteria about a sideshow that has resulted in lenders refusing to lend and blighting properties - there...

[sgclacy]

It was proposed last year that ground rents should be capped at £250 ignoring any sums above that and future reviews - it was argued that lessees did not understand what they were taking on or had no choice but to agree to such ground rent terms.

if that later argument is accepted that...

[sgclacy]

Following on from what I said earlier

https://wslaw.co.uk/insight/defermen...1-ukut0251-lc/


This article considers whether there may be a challenge to the deferment rate

The reported case of Llangewydd...

[sgclacy]

It is very likely that marriage value will be abolished - BUT the deferment rate of 5% is well overdue a review in the light of significant and long term falls in the risk free rate

at the time of Sportelli in 2006 the risk free rate was 2.25% and the Ogden rate set by the government at...

[sgclacy]

L4NDLORD,

I take your point but having the original lease and any deed altering the lease attached to the deed of surrender and regrant means that anyone reviewing the lease will download all they need in one download making it easier, quicker and cheaper to get the information thery n...

[sgclacy]

It is dealt with by way of. deed of surrender and regrant and should have attached to this deed a copy of the lease that is being extended

[sgclacy]

A section 166 is still required...

[sgclacy]

Could the objection that the co freeholder is worried that others may gang up against him and take away his/her share of the freehold whilst they are a flat owner ?

If that was the case then to get round it may be to have a restriction placed against the freeholder that so long as this...

[sgclacy]

Assuming there are two flats both flats would need to start the claim - then on sale the new lessee steps into the shoes of the lessee who is selling.

you and your neighbour should ideally have a participation agreement setting out what would happen if your neighbour does not sell and the...

[sgclacy]

This uplift referred to above deals with very big claims indeed

So if the building is gutted by fire it may take a few years before the building is rebuilt and the insurers will pay up to 30% more than the sum assured to cover inflation in costs during the intervening period...

[sgclacy]

Quoting what I said earlier when posted on a different platform

This is normal practice and reflects the responsibility placed on the freeholder. If the sum assured is too low, then the payout will be reduced. I dealt with a recent claim where the claim was some £5,000 - I met the loss...

[sgclacy]

Moderator - this I believe needs to be posted under long leasehold questions

Christine 22 - This is normal practice and reflects the responsibility placed on the freeholder. If the sum assured is too low, then the payout will be reduced. I dealt with a recent claim where the claim was some...

[sgclacy]

What is the subject matter of the missing paragraphs...