legseleven Posted January 16, 2017 Share Posted January 16, 2017 (edited) Hey guys, My partner & I recently bought a house on Manor Lane (S2) and it has a lease of 98 years remaining under the Duke of Norfolk. We've looked into it and if the lease drops below 75 years, it becomes difficult to mortgage. We've looked into buying it, but we've been told its over £200 just for a quote!!! Has anyone bought their freehold from the Duke of Norfolk and what was the cost - just so we can get a ballpark figure... Thanks in advance xx Edited August 3, 2020 by nikki-red Link to comment Share on other sites More sharing options...
Supertramp Posted January 16, 2017 Share Posted January 16, 2017 Who said it is £200 for a quote? I didn't pay anything for a quote but can't really remember how much it was. I think it was a few hundred to buy it. Link to comment Share on other sites More sharing options...
gomgeg Posted January 16, 2017 Share Posted January 16, 2017 Hey guys, My partner & I recently bought a house on Manor Lane (S2) and it has a lease of 98 years remaining under the Duke of Norfolk. We've looked into it and if the lease drops below 75 years, it becomes difficult to mortgage. We've looked into buying it, but we've been told its over £200 just for a quote!!! Has anyone bought their freehold from the Duke of Norfolk and what was the cost - just so we can get a ballpark figure... Thanks in advance xx I don't think it matters who the landlord is. I believe there is a statutory right to buy the freehold in most cases for houses. When we bought ours ( quite a few years ago ) there was a qualifying period ( how long you've lived in the house ) and the cost was based on a multiple of the ground rent. We also had to pay the leaseholders solicitors fees. I'm sure there must be plenty of sites available to give you the correct legal position. We never regretted buying it, and good luck. Link to comment Share on other sites More sharing options...
AnthonyTapp Posted January 16, 2017 Share Posted January 16, 2017 Have you asked him? that might be the best place to start and go from there Link to comment Share on other sites More sharing options...
legseleven Posted January 16, 2017 Author Share Posted January 16, 2017 Have you asked him? that might be the best place to start and go from there It costs £200 for a quote from the management company... I'm just trying to find someone who's recently done this to see if its worth my while... Link to comment Share on other sites More sharing options...
AnthonyTapp Posted January 16, 2017 Share Posted January 16, 2017 It costs £200 for a quote from the management company... I'm just trying to find someone who's recently done this to see if its worth my while... You didn't say the quote was from the management company just that you had been quoted it ,that could of been from anyone hence my answer Link to comment Share on other sites More sharing options...
mafya Posted January 16, 2017 Share Posted January 16, 2017 It costs £200 for a quote from the management company... I'm just trying to find someone who's recently done this to see if its worth my while... It is worth buying the freehold of your property...... Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted January 16, 2017 Share Posted January 16, 2017 It costs £200 for a quote from the management company. No, it doesn't. Serve Notice of Claim. Pay nothing unless L then demands the statutory deposit. Link to comment Share on other sites More sharing options...
Margarita Ma Posted January 28, 2017 Share Posted January 28, 2017 Wait until you have owned the lease for two years and then, do the claim you have plenty of time left 20 years. A couple of years to save up and pay cash so no additional loan to pay interest on. Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted February 1, 2017 Share Posted February 1, 2017 Wait until you have owned the lease for two years and then, do the claim you have plenty of time left 20 years. A couple of years to save up and pay cash so no additional loan to pay interest on. Yes- but NEVER leave it until the unexpired term drops below the 80yr point; or else you'd face additional "Marriage Value" enhancement of the freehold reversion's value. Link to comment Share on other sites More sharing options...
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