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How long do you have left on your lease?
Buying the freehold on my block of flats
- Thread starter Keitai
- Start date
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On my particular lease 117 years. I'm gonna call their solicitor and confirm
We're a bit confused about it as a letter was only sent out to a few flats and not everyone receiving bit just doesn’t make sense to one of the directors. When he spoke to their office he was told by a woman it was just fir a few flats. He thinks - everyone should have got it as they all have a lease just less years etc, also other director says we have a head lease which is true. Shouldn't we still get a solicitor to check it all out?
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I suspect they are offering the longer lease holders a lower price than the shorter lease holders.
They don’t want you to exercise your right, as it would be very complex to partially dispose of the freehold on the same land.
They are making it as unattractive as they can so that you don’t collectively enfranchise them out.
Do you know what percentage for the freehold is being offered?
It’s better to register your interest, then if you have enough people. Force them out.
It is the lease holder who should reply. It is they who have the right. Having the block director write is fine for collective enfranchisement.
They don’t want you to exercise your right, as it would be very complex to partially dispose of the freehold on the same land.
They are making it as unattractive as they can so that you don’t collectively enfranchise them out.
Do you know what percentage for the freehold is being offered?
It’s better to register your interest, then if you have enough people. Force them out.
It is the lease holder who should reply. It is they who have the right. Having the block director write is fine for collective enfranchisement.
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Without naming the agent / company. They wouldn’t have an address in Southend on sea by any chance?
Sounds like the op is up against experienced players who know how to extract maximum return and know how to muddy the water to make it difficult to sort.
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No he should not fear, their hands are fairly tied. So long as he gets enough leaseholders to proceed. Price, terms and timescales are not something they set. They can all be subject to independent scrutiny.
I suspect they were hoping to slip this one by without anyone biting
I suspect they were hoping to slip this one by without anyone biting
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worth a read
www.lease-advice.org
Buying the freehold of your building - The Leasehold Advisory Service
A brief summary of the key points
www.lease-advice.org
Not sure on the exact percentage of the freehold. Got an email and sent one asking if it was all four blocks and 22 flats but no reply. Hecsent one saying it was the whole building- what does that mean? One block . Was also told section 5 only refers to one block or part of block.
Got this from another forum-
The section 5 notice should apply to a single building (or part of a building) - so it sounds like that's a single building containing 5 flats.
So the £61,600 should relate to 5 flats in one building. Why do you think that's not the case?
£61,600 divided by 5 is £12,320 per flat - but if the leases are unequal lengths, those people with longer leases should be paying less than that, and those people with short leases should be paying more than that.
No lol
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