topflat29

If you are a small block , you can make the enquiry and see what terms the crown demands from leaseholders

Copied from RICS : Guidance Notes on 1967 Leasehold Reform Act ( Notes issued Dec 2015) When originally enacted the 1967 Act applied to ‘lower’ value houses and gave tenants the right to take either an extended lease or to enfranchise (buy their freehold interest). The principle behind the basis of valuation (section 9(1)) was that the land (the site) belonged to the freeholder, and the building (the house) belonged to the tenant. Following the subsequent amendments there are five areas of valuation: • the extended lease (at a modern ground rent) • section 9(1) (no marriage value payable) • section 9(1A) (marriage value payable) • section 9(1C) (like 9(1A) with compensation) and • section 9(1AA) (vacant possession value, subject to assumptions). The Basis of Valuation : the land belonged to the freeholder and the building ( house ) belonged to the tenant. Why hasn't this "basis of valuation" applied to blocks of flats ?

I was wondering if you could apply to the Magistrates Court for getting the documents signed ?

Does the Land Registry record show the current holder of freehold title is the Crown ? or Bona Vacantia ? I think you have to declare yourself as one of leaseholders in the building by a letter to the crown , stating you wish to buy the freehold title and ask how much ?

1. To find name of freeholder . If you check land registry online website and buy a copy of the freehold title to download for your postcode address, Costs £3 by credit card. Avoid the fake land registry websites. 2. Free Guide to buying the freehold title for house. You can download a free guide to "buying the freehold title of a leasehold house " from LEASE ( www.lease-advice.org ) 3. To search for missing freeholder - place advert for missing person in your local paper for 3 consecutive weeks. Keep a copy of each newspapers as evidence to show to the County Court and FTT etc .

When you take out a mortgage to buy a property, you have to study the rules of the mortgage company. The Council does not offer the mortgage loan. The mortgage lender will expect you to put up 10% - 20% deposit and they will lend you the other 80%-90%. 10% deposit is usually reserved for first time buyers but the interest rate charged on the loan is higher and you may be required to pay admin fee say £499 .

Here is the link to gov website ( on leasehold reform ) announced on 7 Jan 2021.) : https://www.gov.uk/government/news/government-reforms-make-it-easier-and-cheaper-for-leaseholders-to-buy-their-homes

What is the unexpired years remaining on the lease and what is the annual ground rent ? Its usually better to buy the freehold title of the leasehold house before you consider adding extension to the house.

If the property is registered under her own name at Land Registry , it does not matter now about reporting her payment to Land Registry. When she sells the property, the capital gain will be calculated from the sale proceeds minus the market value when it was transferred to her.

The estate agent is under money laundering rules and should have a copy of the property title in hand before advertising for sale. So agent would know the years remaining on the lease. The estate agent is required to check the property title and the name of title holder matches name of person wanting to sell.

The cost of the freehold title for a leasehold house will depend on the unexpired years left on the lease and the annual ground rent. For information of the cost of buying the freehold title for house, you can download a free guide from www.lease-advice.org

Lost a message . did you send me the annual ground rent ?

Stylefree , What is the annual ground rent and number of years left on your lease ?

Yes , with less than 70 years remaining on the lease, it is difficult for a prospective buyer to get a mortgage. So Bassguitar will have to look at extending the lease . So make an informal offer at £10K and watch if freeholder shows any interest .

If the property has a leasehold title record at Land Registry , it should show the name of a leaseholder. Have you checked registered details of the other flats in the same building ? If the computer records system operated by Land Registry , does not give any name, you should visit the Land Registry Office for your town or city and ask the LR Customer Service Officer..

Shazzam, The general info about the FTT service and other free guides on other leasehold issues can be downloaded from LEASE website : https://www.lease-advice.org/advice-guide/application-first-tier-tribunal-property-chamber/

Sheila, Make a written complaint against the solicitor to the SRA ( Solicitors Regulation Authority ).

Absolute title is the best form of ownership and is granted when the Land Registry is satisfied with the freeholder’s/lessor’s title. Good leasehold title is granted when the registry is satisfied regarding the leaseholder’s title to the property but not satisfied regarding the freehold title. An example is when the freeholder cannot be identified.

The Law Commission posted this on their website at 21 July 2020. https://www.lawcom.gov.uk/millions-of-leaseholders-to-benefit-from-law-commission-reforms/ Professor Nick Hopkins, Commissioner for property law said: “The leasehold system is not working for millions of homeowners in England and Wales. We have heard how the current law leaves them feeling like they don’t truly own their home. “Our reforms will make a real difference by giving leaseholders greater control over their homes, offering a cheaper and easier route out of leasehold, and establishing commonhold as the preferred alternative system. The reforms will provide a better deal for leaseholders and make our homes work for us, and not somebody else.”

To find the name of current freeholder, check the property title at Land Registry Online by entering your postcode address and you will be offered choice of "freehold title" or "Leasehold title". You can buy a copy by paying £3 using your credit card and download the freehold title. Avoid the fake websites which look like Land Registry and will charge more. If the current freeholder is a limited company, check the company registration at Companies House website. To find the procedure for buying the freehold of leasehold houses , download the free guide from LEASE website. : https://www.lease-advice.org/faq/i-own-a-leasehold-house-how-do-i-buy-the-freehold/ https://www.lease-advice.org/advice-guide/houses-qualification-valuation/ Do study the second website link which gives the links to the 2 application forms

Ethermax, If there is still 740 years on the lease and paying low ground rent , you can make a compulsory purchase of the freehold title at 20 x the ground rent by applying to the FTT .

It probably costs the freeholder more than £2.50 to collect the annual ground rent from the leaseholder. Make an offer to the freeholder to buy the freehold title for say £100 plus paying the conveyancing costs. .

Buy a copy of the freehold title and leasehold title for the post code address from Land Registry Online and check the current owners names. It cost £3 by credit card to download each property title. If the names are the same , the seller is both leaseholder and freeholder, it means the leasehold title has not been cancelled .

If you want to rent room by room basis to 2 or more unrelated parties , it requires HMO licence. Check the HMO rules operated by your local council.

You should be asking the estate agent what is the charge for finding a buyer under sole agency ( for say 6-8 weeks ) and multiple agency basis .