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Buying a new leasehold flat v doing the lotto

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  • Crashy_Time
    Crashy_Time Posts: 13,386
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    Just do the lotto, and some premium bonds.
  • LilElvis
    LilElvis Posts: 5,835
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    Just do the lotto, and some premium bonds.

    Absolutely! Premium bonds provide an awesome return! We got £50 this month on £60k of bonds.

    Mind you, we've only got this value of bonds because we're (effectively) mortgage free and haven't been handing over thousands a year to a landlord.
  • London54
    London54 Posts: 9
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    Hi eddddy,


    The clause in the lease that makes me think that if the freehold is sold that the new landlord wouldn't have to abide by the landlord covenants in the contract is


    "the Tenant hereby agrees that upon the sale by the Landlord of the freehold reversion of the Demised Premises to provide a written release (for the purposes of the Landlord and Tenant (Covenants) Act 1995) of the Landlord's obligations and covenants contained in this Lease if so required by the Landlord and (in any event) so far as the law allows the Tenant releases any landlord from all obligations of the Landlord under this Lease with effect from and including the date on which the relevant landlord disposes of its reversion hereto"


    Maybe I am not interpreting this correctly?
  • Crashy_Time
    Crashy_Time Posts: 13,386
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    LilElvis wrote: »
    Absolutely! Premium bonds provide an awesome return! We got £50 this month on £60k of bonds.

    Mind you, we've only got this value of bonds because we're (effectively) mortgage free and haven't been handing over thousands a year to a landlord.


    When did the limit rise to 60k? Seems you think that people renting can`t have the max in premium bonds :rotfl: not sure what to make of that type of thinking TBH :)
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