Leasehold property - permission to extend

But if some house are leasehold, why not 99 or 125 years, similar to flats?

Can you open this link for recent LVT decision on cost to pay for freehold title of leasehold house ?

 

https://decisions.lease-advice.org//app/uploads/decisions/act67/1-1000/959.pdf

 

Just submit your offer based on 16.67 times your annual ground rent rent plus £250 +VAT contribution to conveyancing costs and include a copy of the LVT report to justify your offer..

1. What you term the LVT (Leasehold Valuation Tribunal) is now called the First Tier Tribunal.

2. I do not think that any freehold reversions are likely to be sold at 16.67YP.

3. So trying that will only increase one's own legal fees.

The FTT decision for Leasehold House in Southport should be your start of negotiation and link is given in post No. 48.:

Price for Enfranchisement

16. The price payable by the Applicants for the Transfer will be £107.00,

being ground rent of £6.40 @ 6% (16.66 YP).

17. Given that the ground rent was determined by reference to the

perpetuity period the Tribunal determined that there was no reason to

value the reversion which as Mr. Orme's calculations illustrated

calculated at zero.

Costs

18. The Respondent is entitled to be recover the reasonable costs of conveyancing

and valuation under Section 9(4) of the Leasehold Reform

Act 1967. The Tribunal assesses these costs at £250 plus VAT.

If you cannot get these terms by informal negotiation , then instruct Jeffrey to serve legal notice on your behalf.

Thank you, but remember that Tribunal decisions are not precedents (unlike court decisions).