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My property purchased approximately 18 months ago is leasehold, the company acting for the freeholder are E&M based in London. The previous owner altered the property in a number of ways without gaining the freeholders permission. This became a sticking point when we were purchasing and in the end we took out indemnity insurance to cover us so currently we are without permissions. E&M have recently offered us the freehold for a very reasonable price and we want to purchase it for peace of mind and to make it more attractive to purchasers should we sell in the future. We have a long term left on the lease so that’s not a problem. The thing is at the end of their offer letter it states that the matter will be referred to their consent dept if found to have had alterations without their consent during their investigations. Our insurance does not cover us for any investigations we bring on ourselves so I’m concerned that if we apply for the freehold it will open a can of worms and end up costing thousands to get retrospective consent. On the other hand they may not do any investigations and it may go through without a problem. Has anyone been in the same boat and purchased their freehold or does anyone have experience from dealing with E&M?
I've dealt with E&M on numerous occasions including taking legal action against them. They have one objective, to wring as much money out of leaseholders as possible which is what they will try to do with you. Just be hard nosed and aggressive with them from the start and take everything they say with a dumper truck full of salt.
