Extend Your Lease guide discussion

anesh002

Hey all at MSE,

I am in need of some help, and I cant seem to find a solid answer to my following questions, i hope someone can help, i'm really stumped!

1. I live on the 2nd floor of a 4 flat masionette. i want to extend my lease or get together with others to buy the freehold, but i dont know what flats are part of the current freehold, is the just the flats within the same structural walls as my flat or is it the whole row of maisonettes along the street, which are effectively detached from mine but were all built at the same time?

2. Does my current freeholder only own my flat or everyone elses too? how do i find this out and do i even need to know this information?

3. when i try to purchase a freehold with my neighbours, what exactly am i trying to buy?? only the freehold to my place or my masionette?

sorry if they seem like simple questions but i cant really seem to find a proper answer to them elsewhere.
Thanks in advance

tim123456789

1) For the purposes of enfrancisement, (provided that you quaify on other grounds) you can enfranchise any part of the building which can be logically separated as an independent property. Case law has established that a group of separate blocks can enfranchise as one "unit", but they don't have to.

2) The freehold for the complete block should be owned by the same person, so there will be a single "person" who is the seller. You will need to form a single "person" (usually a limited company) as the buyer.

3) You are forming part of a collective to buy the freehold of the complete block (or blocks).

As above, the technical term is enfrancisement and you need to search for that.

SKPatel

anesh002 wrote: »

Hey all at MSE,

I am in need of some help, and I cant seem to find a solid answer to my following questions, i hope someone can help, i'm really stumped!

1. I live on the 2nd floor of a 4 flat masionette. i want to extend my lease or get together with others to buy the freehold, but i dont know what flats are part of the current freehold, is the just the flats within the same structural walls as my flat or is it the whole row of maisonettes along the street, which are effectively detached from mine but were all built at the same time?

2. Does my current freeholder only own my flat or everyone elses too? how do i find this out and do i even need to know this information?

3. when i try to purchase a freehold with my neighbours, what exactly am i trying to buy?? only the freehold to my place or my masionette?

sorry if they seem like simple questions but i cant really seem to find a proper answer to them elsewhere.
Thanks in advance

Hello!

In answer to your queries:

1. It is likely that all 4 maisonettes form part of the freehold as they are in the same building.

2. The freeholder will own the building housing the 4 maisonettes. If you search your address on the Land Registry website you will be able to find the freehold title which will give you a list of the flats.

3. You will be buying the freehold which constitutes all the 4 maisonettes. You and the other participants will therefore become the freeholder and landlord to the other non participants. Remember though that the freehold and leasehold titles remain separate so your lease will not disappear and will still need to be extended. Of course, as freeholder you can grant yourself the lease extension.

If you and the other flats decide to proceed, then i would suggest you seek legal advice to check you meet the other qualifying criteria.

Good Luck!

notsurewhereIstand

The marriage value and the terms of the lease were agreed 13th April 2013. It's now June and the freeholders solicitor hasn't issued a completion statement.

It says here http://www.lease-advice.org/information/faqs/faq.asp?item=198 that after two months an application can be made to the court, so it appears the 1993 act can let things drag on.

Is there any incentive for the freeholder to issue a completion statement if they don't really need the funds at the moment?

SKPatel

notsurewhereIstand wrote: »

The marriage value and the terms of the lease were agreed 13th April 2013. It's now June and the freeholders solicitor hasn't issued a completion statement.

It says here http://www.lease-advice.org/information/faqs/faq.asp?item=198 that after two months an application can be made to the court, so it appears the 1993 act can let things drag on.

Is there any incentive for the freeholder to issue a completion statement if they don't really need the funds at the moment?

Hello!

I had the same scenario a few months ago. I would advise you to be very cautious and make sure the deadlines for court applications etc are recorded correctly. The freeholder may not want to grant you the lease extension and may be delaying to see if you miss the window of time to make the court application so your notice is deemed withdrawn.

I would suggest that you give the freeholder a time scale to reply within and state that if no reply is given then you will have no choice but to make a court application without any further notice. Then make sure you make the court application within the correct time limits.

If the freeholder is just being slow, then this should push them into action!

Good Luck!

liam1989

hello again all,

Im ready start the process of extending my lease (ive been dreading this day for so long). im just wondering whether anyone on here can recommend me a solicitor (that expertise in this field) in the north Kent area i.e. herne bay, Whitstable, Canterbury etc?

cheers

SKPatel

liam1989 wrote: »

hello again all,

Im ready start the process of extending my lease (ive been dreading this day for so long). im just wondering whether anyone on here can recommend me a solicitor (that expertise in this field) in the north Kent area i.e. herne bay, Whitstable, Canterbury etc?

cheers

Hello!

I would recommend looking on the ALEP website or the Leasehold Advisory Service website.

Good Luck!

mart.vader

notsurewhereIstand wrote: »

The marriage value and the terms of the lease were agreed 13th April 2013. It's now June and the freeholders solicitor hasn't issued a completion statement.

It says here http://www.lease-advice.org/information/faqs/faq.asp?item=198 that after two months an application can be made to the court, so it appears the 1993 act can let things drag on.

Is there any incentive for the freeholder to issue a completion statement if they don't really need the funds at the moment?

As SKPatel says, don't mess about. If the freeholders sol doesn't stick to the timescale, make the application to the County Court. The court will give you whatever the LVT have ruled you are entitled to. If you let it go outside the two months that are allowed, the freeholder will likely take advantage.

June_Cambridge

Could anyone advise me what to do? I am in the process of buying a flat for my son and daughter as an investment for them, I have a terminal illness and don't want to leave them what I consider to be a lot cash that will probably get frittered away. The purchase price of the flat is £98,000, it is a one bedroom tiny flat that needs everything doing to it, I expect the renovations will cost me around £12,000. The flat is in the village that my children have grown up in and is considered to be a very desirable area. The problem is that it only has a 69 year lease. The cost of extending the lease with no ground rent is £6950 + £480 costs and £450 + VAT for my solicitor, The seller will start the proceedings and due to the state of the flat I am hoping she will pay her costs! I am concerned that when my children come to sell in say 5 - 7 years, they will get less than its actually cost. I am running out of time and if I don't buy this I really don't know what else to do. The plan is for the flat to be rented for about £450 PCM. I would be grateful for any advice or guidance. Thank you

richardw

Sorry to hear about your illness.
Is the future rental income going to improve above £450pcm?