Jeffrey Shaw Posted July 26, 2017 Share Posted July 26, 2017 Looks like the government is wanting to stop this ridiculous leasehold arrangement. No, that's not true. Expropriation of assets would be unlawful, in any event, and that's certainly not what HMG proposes. Link to comment Share on other sites More sharing options...
zaci Posted July 26, 2017 Share Posted July 26, 2017 https://www.theguardian.com/money/2017/jul/25/leasehold-houses-and-the-ground-rent-scandal-all-you-need-to-knowll you need to know about Leasehold property ---------- Post added 26-07-2017 at 19:31 ---------- https://www.theguardian.com/money/2017/jul/25/leasehold-houses-and-the-ground-rent-scandal-all-you-need-to-know Link to comment Share on other sites More sharing options...
topflat29 Posted September 2, 2017 Share Posted September 2, 2017 If the leasehold house has 999 years lease and small annual ground rent, it may cost about 17 -18 times the ground rent to buy the freehold title and about £250 + VAT in legal expenses. Based on the FTT decision made last year : http://decisions.lease-advice.org//app/uploads/decisions/act67/1-1000/959.pdf Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted September 4, 2017 Share Posted September 4, 2017 If the leasehold house has 999 years lease and small annual ground rent, it may cost about 17 -18 times the ground rent to buy the freehold title and about £250 + VAT in legal expenses. Based on the FTT decision made last year : http://decisions.lease-advice.org//app/uploads/decisions/act67/1-1000/959.pdf The FTT decision is not binding law- it's not a Court, you see- and a leaseholder will almost always have to pay more than that. Link to comment Share on other sites More sharing options...
msto25 Posted January 25, 2018 Share Posted January 25, 2018 would it be possible to send me a copy of the letter you sent to your freeholder, only I am in the exact same position as you were!! your help would be greatly appreciated. Originally Posted by Kaye2812 View Post we had a similar problem a couple of years ago as we wanted to extend. The freeholder quoted £850 to purchase the freehold. Our lease had over 700 years left and was £5 per annum in ground rent. We replied offering £50 to purchase the freehold otherwise we would take it to the land value tribunal. We got a counter offer a week later for £175 (just below the cost of us taking it to the land value tribunal) so we accepted and now own the freehold. If you want me to send you the letter I sent across to their solicitor and the examples of previous LVT decisions I used to argue the price I offered, then just pm me your email address and I will send it straight across. Good luck with it all. Link to comment Share on other sites More sharing options...
geared Posted January 25, 2018 Share Posted January 25, 2018 would it be possible to send me a copy of the letter you sent to your freeholder, only I am in the exact same position as you were!! your help would be greatly appreciated. Very doubtful, they've not been active on this forum for quite a long time. Link to comment Share on other sites More sharing options...
msto25 Posted January 25, 2018 Share Posted January 25, 2018 oh dear i will have to think for myself then! Link to comment Share on other sites More sharing options...
topflat29 Posted February 7, 2018 Share Posted February 7, 2018 msto25, Can you open this link for recent LVT decision on cost to pay for freehold title of leasehold house ? https://decisions.lease-advice.org//app/uploads/decisions/act67/1-1000/959.pdf Just submit your offer based on 16.67 times your annual ground rent rent plus £250 +VAT contribution to conveyancing costs and include a copy of the LVT report to justify your offer.. Link to comment Share on other sites More sharing options...
poppet2 Posted February 8, 2018 Share Posted February 8, 2018 But if some house are leasehold, why not 99 or 125 years, similar to flats? Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted February 8, 2018 Share Posted February 8, 2018 Can you open this link for recent LVT decision on cost to pay for freehold title of leasehold house ? https://decisions.lease-advice.org//app/uploads/decisions/act67/1-1000/959.pdf Just submit your offer based on 16.67 times your annual ground rent rent plus £250 +VAT contribution to conveyancing costs and include a copy of the LVT report to justify your offer.. 1. What you term the LVT (Leasehold Valuation Tribunal) is now called the First Tier Tribunal. 2. I do not think that any freehold reversions are likely to be sold at 16.67YP. 3. So trying that will only increase one's own legal fees. Link to comment Share on other sites More sharing options...
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