Lease assignment costs

propertyman

The landlord is being unreasonable and I would have no doubt were I acting that an application to the court would rule accordingly.
You could go ahead and assign and indemnify the vendor and risk him taking action against you, but it seems as if both are aware of the costs of either action and hoping to fudge it.

I suspect that you will have to stand firm, and explain that the landlord's requirements and timescales are unreasonable for dealing with the consent, and as to the deed even if prepared and executed ought to be in the region of £175 to £250 net, not £600 and based on LVT decisions would be upheld if challenged under schedule 11 at the LVT.

This is a point that you as a future purchaser will have to contend with as will the vendor, if you walk away.

Or bearing in mind the time and cost that it will take to deal with this outdated landlord, you offer to reduce the rpice by the cost of these matters and then deal with him in due course.

* One side note, does the landlord deal with service charge matters? If not who does? If there is for example a right to manage company, the deed is entered into by the RTM, not the landlord, as that appointment overrides the lease.

Pupnik

propertyman wrote: »

* One side note, does the landlord deal with service charge matters? If not who does? If there is for example a right to manage company, the landlord the deed is entered into by the RTM, not the landlord, as that appointment overrides the lease.

Well this is interesting, I had not heard this before. The property used to be managed by this company asking for £600 but the current owner and the owner of the above flat executed their right to manage in 2004 and have been managing it ever since. All that this management company does now is collect the ground rent on behalf of the freeholder (which is their partner company). It's good news indeed if the RTM company can override the freeholder on these matters.

propertyman

Pupnik wrote: »

Well this is interesting, I had not heard this before. The property used to be managed by this company asking for £600 but the current owner and the owner of the above flat executed their right to manage in 2004 and have been managing it ever since.

I am glad I mentioned it. Where the RTM takes over ( and the RTM is one under CLRA 2002) any consent to assign or any deed is entered into by the RTM not the landlord.

The landlord is notified of any consents but as they are so distant to the effect of a breach by you, they have little interest in objecting.

Refer your lawyer to http://www.legislation.gov.uk/ukpga/2002/15/section/98
http://www.lease-advice.org/publications/documents/document.asp?item=21#23

and tell them my fee account is ready just let me have their DX number

And this shows to others that conveyancing factories, and often good lawyers, need to understand a little more when dealing with these consents and not treat them as a simple exchange of paperwork as part of the process. leases and information should be read and applied.

I hope they concur ( as they have all the paperwork) and you can buy the home you want.

Pupnik

Thanks for those links, it is nice to have some good news regarding this purchase for once!

I definitely agree with your last comment. In hindsight I think I would have researched a solicitor who has much more experience with leasehold properties because every single bump in the road of this sale has been related to the lease. I would say 'well now I know for next time around' but next time around I will be looking at freehold properties only.

Thanks so much for your help!