Freehold Reversion Purchase

[tomo2001]

Hi, after some advice please. Elderly parents in law are in a leasehold property and they would like to purchase, I believe the Freehold Reversion? The ground rent is paid to Coppen Estates. Hoping someone on here can advise the process and hopefully even be interested to help with this (assuming qualified to do so). Thanks in advance.

[geared]

Jeffrey is your man, he's well versed in all things Coppen.

 

https://solicitors.lawsociety.org.uk/person/106261/jeffrey-stephen-shaw

Edited October 4, 2022 by geared

[tomo2001]

Thanks geared. They will have been in their property 2yrs at the beginning of December. I believe this is the required milestone to be able to make the purchase. Can work be started now? Should I just contact Jeffrey?

[geared]

He'll know for sure.  You probably can't send the official notice, but that doesn't mean everything can't be assessed and written up ready to go.

[topflat29]

Are you a leasehold house ?  if so,  how many years left on your lease and what ground rent do you pay ?

[Jeffrey Shaw]

tomo2001: best to read the existing thread re Coppen.

See https://www.sheffieldforum.co.uk/topic/343796-coppen-estates-sheffield/

The brief answer is as per posts #2 and 3 on the present thread.

The file can be started and the Notice of Claim can be signed; but it cannot be served until they've owned for 2yrs.

NOTE: for this purpose, ownership begins on the purchase date, not when they became registered at HMLR.

[tomo2001]

On 08/10/2022 at 12:41, topflat29 said:

Are you a leasehold house ?  if so,  how many years left on your lease and what ground rent do you pay 

61 years left. Ground rent started at £50 but rising to £200. Paid £145 this year included the ludicrous £45 'insurance check'

[topflat29]

On 09/10/2022 at 13:22, tomo2001 said:

61 years left. Ground rent started at £50 but rising to £200. Paid £145 this year included the ludicrous £45 'insurance check'

1,  There is  a free guide to buying the freehold title  (  for   leasehold house )  which can be downloaded from www.lease-advice.org  . 

 

2.   Also  for evaluation of  cost, see   section 6   for a house with 60 years remaining on the lease    (  https://www.lease-advice.org/advice-guide/leasehold-houses-valuation/  ) .

 

The valuation sample  ( section 6)  includes "marriage value"  which the  previous  Housing Minister  has announced   it intends to withdraw  in the future.

 

3.  You should pay  Jeffrey Shaw  for half hour consultation . He is the expert  on leasehold matters and dealing with the freeholder.

[tomo2001]

3 hours ago, topflat29 said:

1,  There is  a free guide to buying the freehold title  (  for   leasehold house )  which can be downloaded from www.lease-advice.org  . 

 

2.   Also  for evaluation of  cost, see   section 6   for a house with 60 years remaining on the lease    (  https://www.lease-advice.org/advice-guide/leasehold-houses-valuation/  ) .

 

The valuation sample  ( section 6)  includes "marriage value"  which the  previous  Housing Minister  has announced   it intends to withdraw  in the future.

 

3.  You should pay  Jeffrey Shaw  for half hour consultation . He is the expert  on leasehold matters and dealing with the freeholder.

Thanks topflat29

 

Emailed Jeffrey but as yet no reply.

[Bilge]

Any advice on this where the freeholder hasn't been charging any rent for years? We're coming up to 2 years in a leasehold house with 700+ years on it and we'd like to buy the freehold when we can.

 

The previous leaseholder (that we bought the house from) wasn't charged any rent either and they owned it for many years. We took an insurance policy out to cover any claim for back rent, but so far nothing. After 2 years can they not legally charge us any rent or back rent?

 

I guess some firms just buy up long leases with no intention of charging any rent, just as security with a view to selling them at some far off future date?