Legal advice on Flat with stubborn freeholder

ILW

gman20 wrote: »

Eek. Can you replace a roof then file for a reimbursement?

You can try, but it could take years to get your money back, if they want to drag it out.
Believe me if the freeholder wants to make trouble for you, they do hold most of the cards.
I would walk away from it.

gman20_2

Well i'm going to look at it tomorrow anyway since it's booked now and I'm curious. I'll report back.

Grovester_2

gman20 wrote: »

Eek. Can you replace a roof then file for a reimbursement?

LOL, no, the quotes to replace the roof here is 6 figures.

gman20_2

Grovester wrote: »

LOL, no, the quotes to replace the roof here is 6 figures.

Oh right, a block of flats I take it.

Fire_Fox

gman20 wrote: »

Looks like she paid 72K for the freehold, with no lender. (Possibly remortgaged?)
I think the reason she's being so hostile is all to do with the amount she has riding on buying that bottom flat. She invested 72K, 6 months ago on the same month as the bottom flat got repo'd
It's clear what she's planning to do, whether she can afford for me to buy the flat is another thing.
£72K for a measly £50 a year ground rent is crazy. She needs this flat a lot more than I do, and if they accept my offer... She's screwed.

All speculation mind you. But if the shoe fits.

£72K for whatever income might arise from letting the flat, as she is the freeholder and leaseholder she can do whatever she wants. Plus any profit she will make through setting her own service charges and the increased value of the property over time; ground rent isn't where a freeholder makes money.

Speculation is fine if you have background knowledge at your fingertips: you however don't seem to know anything about leasehold issues. If you think you can repeatedly take this freeholder to an LVT without your actions being dismissed as "frivolous, vexatious or an abuse of the process" you will have a rude awakening.

gman20_2

Fire_Fox wrote: »

£72K for whatever income might arise from letting the flat, as she is the freeholder and leaseholder she can do whatever she wants. Plus any profit she will make through setting her own service charges and the increased value of the property over time; ground rent isn't where a freeholder makes money.

Speculation is fine if you have background knowledge at your fingertips: you however don't seem to know anything about leasehold issues. If you think you can repeatedly take this freeholder to an LVT without your actions being dismissed as "frivolous, vexatious or an abuse of the process" you will have a rude awakening.

When did I say I'd repeatedly take her to an LVT? I just said that I would probably have to when it comes to the lease extension because she will most likely overvalue it as a way to get me out of the flat.

gman20_2

Damp in most rooms.
Basement room really is just a basement with laminate flooring, not really livable.
Upstairs is let out, and I think thats what's going to happen to downstairs too.
EA was hilariously non caring about if it sold or not. Admitted it wasn't his sale so he doesn't really care.
The street had 2 abandoned houses which were personally much more interesting than the flat I saw.
Looked like they hadn't been lived in for 10+ years.
I always wonder who has the ability to sit on such a liability..

One great big, maybe 8 bedroom house. Lovely period windows, all overgrown to the point where you can't even see the doorway.
Who owns these places?

bitsandpieces

gman20 wrote: »

Damp in most rooms.
Basement room really is just a basement with laminate flooring, not really livable.
Upstairs is let out, and I think thats what's going to happen to downstairs too.
EA was hilariously non caring about if it sold or not. Admitted it wasn't his sale so he doesn't really care.
The street had 2 abandoned houses which were personally much more interesting than the flat I saw.
Looked like they hadn't been lived in for 10+ years.
I always wonder who has the ability to sit on such a liability..

One great big, maybe 8 bedroom house. Lovely period windows, all overgrown to the point where you can't even see the doorway.
Who owns these places?

Ah - so you're not going for it, then

gman20_2

Curiosity got the better of me and I bought the title register for one of the boarded up houses.
A couple bought the house in january of 1985 and then nothing eventful happened until:
(28.04.2008) Proprietor: NATIONWIDE BUILDING SOCIETY of Nationwide
House, Pipers Way, Swindon L SN38 1NW.

Very sad. I hope they didn't die or anything. No legal action was taken prior to that though.
So how can Nationwide just sit on an asset such as this. By the condition it was in, it must actually be losing them money at the moment.

gman20_2

bitsandpieces wrote: »

Ah - so you're not going for it, then

It would need to be around £50K and the freeholder must not want it. Only then would I go for it.