geared Posted January 13 Share Posted January 13 Have you calculated what it'd cost you now vs the proposals? You might hang around for years and end up saving chump change. 1 Link to comment Share on other sites More sharing options...
JaQee Posted January 25 Share Posted January 25 The neighbours apparently bought their freehold recently for around £2,000 so we are looking into the possibility of the vendors making the application now and passing the benefit to us on completion. We really don't want the hassle of being dependent on a landlords permission for any changes we want to make in the first couple of years. And can anybody tell me how to remove a quote box when you decide against using it? Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted January 28 Share Posted January 28 On 25/01/2024 at 09:24, JaQee said: The neighbours apparently bought their freehold recently for around £2,000 so we are looking into the possibility of the vendors making the application now and passing the benefit to us on completion. We really don't want the hassle of being dependent on a landlords permission for any changes we want to make in the first couple of years. Yes. Ensure that: a. V's solicitors agree to include appropriate contract clauses about V serving Notice of Claim once you've exchanged contracts on your leasehold purchase; AND b. V executes a Deed of Assignment in your favour alongside the leasehold purchase Transfer TR1. Link to comment Share on other sites More sharing options...
LisL Posted February 2 Share Posted February 2 Hi we recently bought a house , know from reading this thread that there’s no point in attempting at this stage to buy the freehold <2 yrs. (We did request that the vendors start this process for us during the purchase negotiations but they refused) We are wanting to make some alterations and I was aware that we would have to obtain permission from Coppen but I thought this was more of a formality. Today the builder/surveyor who came round was quoting some crazy figures for the approval upwards of £700?!? (Just planning removal of a part of the kitchen internal wall) is this really the going rate for approval? Also online I’m seeing several ‘freehold purchase calculations’ to get a ballpark idea of cost, does anyone know the actual formula these calculations are based on? thanks 😊 Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted February 4 Share Posted February 4 There's no 'actual formula'. The price is based on various factors including unexpired lease term, ground rent, any rent increase mechanism in the lease, the property's open-market value, and interest rates. However, for some general guidance, see the Leasehold Advisory Service website: https://www.lease-advice.org/advice/find-the-right-information-for-you/?step-option=62 Link to comment Share on other sites More sharing options...
Foxglove61 Posted February 11 Share Posted February 11 Hi Jeffrey, how can I best contact you with regards to purchasing a leasehold from the dreaded Coppen estates please? Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted February 11 Share Posted February 11 5 hours ago, Foxglove61 said: Hi Jeffrey, how can I best contact you with regards to purchasing a leasehold from the dreaded Coppen estates please? You've not read my footer! Link to comment Share on other sites More sharing options...
Foxglove61 Posted February 11 Share Posted February 11 I can't see this on my mobile phone unfortunately it's not showing. Link to comment Share on other sites More sharing options...
JaQee Posted February 11 Share Posted February 11 On 28/01/2024 at 16:42, Jeffrey Shaw said: Yes. Ensure that: a. V's solicitors agree to include appropriate contract clauses about V serving Notice of Claim once you've exchanged contracts on your leasehold purchase; AND b. V executes a Deed of Assignment in your favour alongside the leasehold purchase Transfer TR1. Thank you very much for that. The buyers are happy to go through the process of serving the claim notices/dealing with the assignment so long as we pay the additional legal costs and quotes (all plus Vat) are: V solicitor - £450 prep and serving Claim Notice and £300 to deal with assignment. Our solicitor- £500 to review /produce notice and assignment documents and ensure the claim is transferred properly. £800 for conveyancing. £450 to the valuer for negotiating Suggested £1000 to Coppens solicitor Plus of course the cost of the freehold, as yet unknown. We estimate the final cost may be around the £5,000 mark We'd just like to know if this sounds reasonable? If we waited 2 years it looks like the only saving would be the cost of the vendors solicitor (or the cost of our solicitor seemingly checking the work of the vendors solicitor?) Legal fees will probably have risen by then too so the saving will be less. Link to comment Share on other sites More sharing options...
geared Posted February 12 Share Posted February 12 18 hours ago, Foxglove61 said: I can't see this on my mobile phone unfortunately it's not showing. They don't show on my browser either, so here are the contact details: Quote JEFFREY SHAW Solicitor with Nether Edge Law Contact me on jss@netheredgelaw.co.uk (not via SF private message, please!) Link to comment Share on other sites More sharing options...
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