Leasehold property - permission to extend

[Kaye2812]

Apologies for reviving a dormant thread but we have just purchased a leasehold property (£6 p/a ground rent and a lease of 836 years) but have been quoted £1750 for the freehold from Shenstone!

Would love to see the letter that you sent back to your freeholders if you still have it ??

thanks in advance !

 

Drop me a pm with your email address and I will forward it on to you. ☺️

[spider1]

If it was me i would just buy the lease and have the property Freehold // I would let Mr J Shaw sort every thing out he specialises in this sort of thing . It will make your property more saleable if you ever decided to sell . Make it easy for yourself if you can afford an extention buy the lease dont let anybody hold a gun to your head :hihi:

[Jeffrey Shaw]

Apologies for reviving a dormant thread but we have just purchased a leasehold property (£6 p/a ground rent and a lease of 836 years) but have been quoted £1750 for the freehold from Shenstone!

Would love to see the letter that you sent back to your freeholders if you still have it?

 

If it was me i would just buy the lease and have the property Freehold // I would let Mr J Shaw sort every thing out he specialises in this sort of thing . It will make your property more saleable if you ever decided to sell . Make it easy for yourself if you can afford an extention buy the lease dont let anybody hold a gun to your head

Thank you!

Note that a new leaseholder of a house has no statutory rights to enfranchise until after the first two years, and also that extending a house's leasehold is very rarely worthwhile- better to wait two years and then seek the freehold reversion. £1750 is way too much in any case.

[ealsusa]

we had a similar problem a couple of years ago as we wanted to extend. The freeholder quoted £850 to purchase the freehold. Our lease had over 700 years left and was £5 per annum in ground rent. We replied offering £50 to purchase the freehold otherwise we would take it to the land value tribunal. We got a counter offer a week later for £175 (just below the cost of us taking it to the land value tribunal) so we accepted and now own the freehold.

 

If you want me to send you the letter I sent across to their solicitor and the examples of previous LVT decisions I used to argue the price I offered, then just pm me your email address and I will send it straight across.

 

Good luck with it all.

 

Hi, I am going through the same process at the moment and was quoted about £4200 for the plot. I pay £40 per year and the remaining lease is 960 years. I would be grateful if you could send me the sample letter and other information to my email at (eaauk at yahoo dot com).

[Kaye2812]

Hi, I am going through the same process at the moment and was quoted about £4200 for the plot. I pay £40 per year and the remaining lease is 960 years. I would be grateful if you could send me the sample letter and other information to my email at (eaauk at yahoo dot com).

 

It's on my work computer. I can send it to you when I return to work on the 3rd January. ☺

[Jeffrey Shaw]

Hi, I am going through the same process at the moment and was quoted about £4200 for the plot. I pay £40 per year and the remaining lease is 960 years.

The proper price ought to be about £850 to £1200 + V's fees.

Have you not served a Notice of Claim [1967 Act]?

[ealsusa]

thanks to both of you.

 

---------- Post added 05-01-2017 at 15:40 ----------

 

It's on my work computer. I can send it to you when I return to work on the 3rd January. ☺

 

hi, this is just a kind reminder to send me the samples please. sorry but i am not allowed to PM yet as i have not reached the minimum posts :-(

 

---------- Post added 07-01-2017 at 10:54 ----------

 

The proper price ought to be about £850 to £1200 + V's fees.

Have you not served a Notice of Claim [1967 Act]?

 

should the the notice of claim be done through a solicitor? and if so what is the usual fees ?

Edited January 3, 2017 by ealsusa

[ealsusa]

It's on my work computer. I can send it to you when I return to work on the 3rd January. ☺

 

hi there, this is just a gentle reminder to send me the sample docs (at eaauk at yahoo dot com) you have if you can find them please. thank you.

[Jeffrey Shaw]

should the the notice of claim be done through a solicitor?

Yes (and, I know, I would say that!)

Although it's not compulsory, it minimises the possibility of errors dooming it to invalidity.

and if so what is the usual fees ?

Cannot say- it's just part of the full exercise.

My firm charges £250-£350 + VAT + disbursements for this first part of the work.

[PetePal]

we had a similar problem a couple of years ago as we wanted to extend. The freeholder quoted £850 to purchase the freehold. Our lease had over 700 years left and was £5 per annum in ground rent. We replied offering £50 to purchase the freehold otherwise we would take it to the land value tribunal. We got a counter offer a week later for £175 (just below the cost of us taking it to the land value tribunal) so we accepted and now own the freehold.

 

If you want me to send you the letter I sent across to their solicitor and the examples of previous LVT decisions I used to argue the price I offered, then just pm me your email address and I will send it straight across.

 

Good luck with it all.

 

I have the same problem with E & M wanting £500 for the building of a small kitchen extension and £1200 to purchase freehold. Ground rent is £16 p/a. I would be great full to see your letter etc. but am unable to pm because of insufficient posts. I'll address it.