WARNING: any Sheffield leasehold property owners?

[rothschild 10]

I had problems with E&M a few years back which I explained in a post on this thread.

 

Since setting up a Direct Debit I have not had problems. Also under the new regulations they have to send me an invoice weeks before it is due. Each time now I am offered the chance to buy the freehold. My ground rent is £2.90 per year and their current offer is £110 including legal fees. At first they wanted £240 so as they must make so little profit from my account they want to get shot of it.

 

However, I can not see the benefit in my case as £110 is 38 years of rent and £2.90 becomes worth less each year whilst £110 now is still quite a lump.

 

Has anyone looked in to the benefits of buying a small value ground rent which has not been a problem for years?

 

I personally would never consider buying a house without the freehold. It doesn't sit right with me that somebody else has first say over the land that your house is built on. Not to mention the problems that many many people have experienced with their landlords.

 

I would say it's definately worth the money to buy the lease if only for future peace of mind. I would hate to have the hassle that some have suffered on this thread.

[Pro Builders 10]

Foxxx

Don't get upset. There are people on these boards who contribute useful stuff (like your post and the post about carcraft warranties) and there are those who have nothing to contribute so just wind people up.

 

Keep posting .......

 

Col S

 

Its called Trolling

[Jeffrey Shaw 90]

I personally would never consider buying a house without the freehold. It doesn't sit right with me that somebody else has first say over the land that your house is built on. Not to mention the problems that many many people have experienced with their landlords.

 

I would say it's definately worth the money to buy the lease** if only for future peace of mind. I would hate to have the hassle that some have suffered on this thread.

Yes, except that- where I've marked '**'- you meant "...buy the freehold reversion..."

[Jeffrey Shaw 90]

Thanks for the replies everyone. Jeff are you a solicitor that deals with property law? I did contact the leasehold advisory service who if anything made me feel more worried. They advised that I pay the money under protest and then go to a tribunal as the company could pile more money on if I did not pay immediately. Can anyone tell me if E M is connected to LMP and if there is any organisation representing leaseholders currently active in Sheffield.

I am very surprised that EM has offered to sell a lease at such a low price I was offered mine in 2005 for 1380. £110 is lower than the current admin fees that I am being billed for.

Yes, I am; 33 and a bit years' experience. I appear on the LAS website, too.

 

Please p.m. or e-mail me if you'd like professional advice off-forum.

 

E&M is agent, only; other companies in same group own the f/r.