Coppen Estates. . . .Sheffield

[Jeffrey Shaw 90]

Yes. For a lease with under 80yrs. unexpired, the leaseholder (T) has to include in the purchase price payable to the vendor/reversioner (L) half of the 'marriage value'. For more about this, refer to http://www.lease-advice.org/wizard/?step=7

[Confuddler 10]

Hi Jeffrey, I'm appealing for your free advice again. My solicitor claims that no-one gets out of paying Coppen the insurance administration charge and that he will claim it back at the point you try to sell regardless (at a point when the delays he could introduce mean you are over a barrel). Are you aware if this is true? You have given the impression that if a leaseholder plays by the rules that Coppen won't hold it against them.

[iwbsheff 10]

Having just sent off my s164 for the second year, I'm fulling expecting to get a bill when the ground rent is due for two insurance charges. It appears Coppen do not listen and do not respect the law.

 

"My solicitor claims that no-one gets out of paying Coppen the insurance administration charge and that he will claim it back at the point you try to sell regardless (at a point when the delays he could introduce mean you are over a barrel)."

 

This is what I assume would happen when we come to sell. He'll scare the life out of some first time buyer and their solicitor that there is some kind of 'fine' outstanding on the property. I actually wrote to my MP about this shady practice but his advice was to say ignore them and say "take me to court" - all well and good unless you're trying to sell a house with a nervous buyer and you're in a a chain.

 

I'm going to buy my freehold when the two years are up, so if/when we come to sell on at least we won't have the hassle. Coppen will sadly get some money out of me so these freeholds - which I imagine they pick up for a song, given the measly ground rent - appear to be a worthwhile investment on their part.

Edited December 16, 2015 by iwbsheff

[Jeffrey Shaw 90]

Hi Jeffrey, I'm appealing for your free advice again. My solicitor claims that no-one gets out of paying Coppen the insurance administration charge and that he will claim it back at the point you try to sell regardless (at a point when the delays he could introduce mean you are over a barrel). Are you aware if this is true? You have given the impression that if a leaseholder plays by the rules that Coppen won't hold it against them.

Your solicitor is wrong; BUT you must comply with every detail of the "Get-out-of-insurance-free" rules.

[Confuddler 10]

Your solicitor is wrong; BUT you must comply with every detail of the "Get-out-of-insurance-free" rules.

 

Well, I think I have. I used the form linked by leasehold advisory service and posted it about a week after moving in so it should have been there within 14 days. It sounds like Coppen invoice for it regardless so I don't get to find out if I did actually miss anything until such time as I sell.

[Jeffrey Shaw 90]

If Coppen does seek a fee, take legal advice rather than just caving in.

[trackrunner 10]

We sold our house and Coppen wanted increased the ground rent from £30 a year to £160 for the new buyers.

Mike Haslam who is an expert in this area dealt with this for us. We signed something (cant remember what it was called) for the new buyers to purchase the freehold under our name and in two years it would become theirs. The buyers paid all the fees except the first £3000 which it would have cost to buy the added years on the leasehold.

[Jeffrey Shaw 90]

We sold our house and Coppen wanted increased the ground rent from £30 a year to £160 for the new buyers.

Mike Haslam who is an expert in this area dealt with this for us. We signed something (cant remember what it was called) for the new buyers to purchase the freehold under our name and in two years it would become theirs. The buyers paid all the fees except the first £3000 which it would have cost to buy the added years on the leasehold.

Mr Haslam does act for Coppen, you know.

[vincentb 10]

Mr Haslam does act for Coppen, you know.

 

Oh! Wouldn't that be a conflict of interest, if he acts for a leaseholder against Coppen?

[iwbsheff 10]

"Mr Haslam does act for Coppen, you know."

 

That's interesting....

[Cyclone 10]

We sold our house and Coppen wanted increased the ground rent from £30 a year to £160 for the new buyers.

Mike Haslam who is an expert in this area dealt with this for us. We signed something (cant remember what it was called) for the new buyers to purchase the freehold under our name and in two years it would become theirs. The buyers paid all the fees except the first £3000 which it would have cost to buy the added years on the leasehold.

 

Aren't leases fixed, they can't just increase them because the house is being sold...

[trackrunner 10]

Aren't leases fixed, they can't just increase them because the house is being sold...

I'm quite happy to show you the paperwork where they said they will increase it.