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Leasehold Extension
Comments
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The lease system is the only system that can work for properties that can't easily have a line drawn around them on the ground. How could somebody hold the freehold on just one flat in a block?
It works in Scotland just fine where there are neither freeholders or leaseholders. When you buy a flat you actually buy it rather that just buying a very long lease/tenancy.0 -
It works in Scotland just fine where there are neither freeholders or leaseholders. When you buy a flat you actually buy it rather that just buying a very long lease/tenancy
Yes, but it is a totally different legal system.
That's not just words - there are hundreds of years of history that build up into how laws work. Even if the practical outcome ends up being quite similar, you have to get there in a certain way.
There was indeed an attempt to reform the leasehold system and introduce something called commonhold in England. It's even more similar to the Scottish system than the modern version of long leaseholds. It has been a total flop (perhaps unfortunately).
In Scotland, you can have problems with Factors, just as in England it can be Freeholders and their managers.0 -
The lease system is the only system that can work for properties that can't easily have a line drawn around them on the ground. How could somebody hold the freehold on just one flat in a block?
like in the rest of the world? Flats are not a novelty unique to England!EU expat working in London0 -
I don’t understand why you would believe what the freeholder is telling you.
It’s likely they are inflating the actual price for the lease extension. It’s also likely they are making the ground rent more favourable for them.
Go through the formal channels, serve a Section 42 notice and get a valuation done. Then you’ll know how much it should actually cost.
Informal extensions will almost always favour the freeholder0
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