Coppen Estates. . . .Sheffield

[humble3]

Could anyone recommend a Solicitor who has successfully dealt with Coppell Estate over leasehold 

[Jeffrey Shaw]

On 13/07/2020 at 16:22, humble3 said:

Could anyone recommend a Solicitor who has successfully dealt with Coppell Estate over leasehold 

I can- have you not read up the thread, though?

[LL2112]

So, starting to read through the Leasehold Reform report that came out today. Must admit that I'm scan reading and taking others comments and conclusions but... looks like it could be a game changer for Leasehold should these proposals become law. For those with long leasehold houses in Sheffield then buying the Freehold will become a no-brainer surely? The value of the Freehold will be set at a reasonable level and there may be no obligation to pay the legal fees of the Freeholder.

In fact, as far as I can see, that would mean that the Freeholder will be selling the Freehold and losing money on the transaction as the costs of doing so will be higher than the money they will receive! Maybe there will be a way of cheaply assigning the Freehold to the Leaseholder without the same extent of legal fees?

Coppen, and others, won't happy! Shame... :-)

[LL2112]

Ok so my previous comment is slightly wrong. It looks like the Leaseholder, in order to acquire the Freehold Reversion, would likely pay the lower of an amount fixed by the Govt or the Freeholders legal fees - assuming we are taking about the long lease low GR Sheffield type Leaseholds. So for example:

 

If the Govt set the max amount at £1000 for FHolders legal fees,

If the Premium (PR) payable by leaseholder to acquire freehold was £150 (that is, less than Gov Max)

Landlord’s reasonably incurred non-litigation costs (legal fees): £750  (that is, more than PR)

Leaseholder pays £750 (that is, lower of Gov Max and FH value

 

Or in effect the LH is paying £150 for the FH and making a contribution to legal fees of £600.

So not a huge saving potentially; but does render the value of many FHs of this type to effectively zero.

[geared]

The long leaseholds in Sheffield are not the problem, it's the expensive ones with escalators in that really bite people in the bum.

 

What is proposed to tackle those?

[LL2112]

No the long leases are not a problem. But the FH can still try and sting you for permission fees and other fees if they are on the ball as well as slowing up buying and selling and charging fees when conveyancing takes place. 
 

I haven’t looked into the situation for onerous leases and Fleecehold but judging by people’s responses on Facebook etc it sounds like a positive outcome. 
 

Long way to go though as the Govt has to adopt recommendations and put them into law. 

[molecularbob]

Just received another bill that includes alternate insurance charges despite correctly filed s164 documents, they made the mistake of billing me by email and then entered into an email exchange when I challenged the bill. As they are now aware of the incorrect billing, is there anyone I can report them to when they do it again next year?

[Jeffrey Shaw]

4 hours ago, molecularbob said:

Just received another bill that includes alternate insurance charges despite correctly filed s164 documents, they made the mistake of billing me by email and then entered into an email exchange when I challenged the bill. As they are now aware of the incorrect billing, is there anyone I can report them to when they do it again next year?

Yes. Demanding money by misrepresentation can be a criminal offence.

See the Fraud Act 2006 (extracts below)- refer to  https://www.legislation.gov.uk/ukpga/2006/35/contents :

 

1. Fraud

(1) A person is guilty of fraud if he is in breach of any of the sections listed in subsection (2) (which provide for different ways of committing the offence).

(2) The sections are—

(a) section 2 (fraud by false representation)...

 

2.  Fraud by false representation

(1) A person is in breach of this section if he—

(a) dishonestly makes a false representation, and

(b)intends, by making the representation—

(i) to make a gain for himself or another, or

(ii) to cause loss to another or to expose another to a risk of loss.

(2) A representation is false if—

(a)it is untrue or misleading, and

(b)the person making it knows that it is, or might be, untrue or misleading...

On 21/07/2020 at 21:43, LL2112 said:

Long way to go though as the Govt has to adopt recommendations and put them into law. 

Yes. The Law Commission has not even published a draft Bill of its proposals- so it might be several years until the law is changed.

[DareToDream]

Question about 'good leasehold'.

 

I recently had an offer accepted but walked away from it when I found out it wasn't freehold, but in fact a long-lease 'good leasehold'.  I was under a time constraint to accept, but the bait and switch had left a sour taste in my mouth and from what I could figure out it would have been very difficult to enfranchise to freehold. I know it requires various legal proofs to upgrade to 'absolute leasehold'.  Is it necessary to have absolute leasehold before upgrading to freehold? Apart from walking away from the bait and switch and the expense and hassle, which I have no regrets about, did I make a mistake?

 

Mr. Shaw, if you're there?

[topflat29]

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.