Ggg Posted November 13, 2020 Share Posted November 13, 2020 Our freehold has recently been sold on and is now managed by a property management company. They have sent a letter asking who we insure our house with and have included some recommendations for future refernce. Is this usual? On enquiring we have been quoted £2000 to purchase the freehold ( 3 bed semi). Does this seam about average cost? This I have been told includes their fees but we will have to register the property ourselves with the land registry. Thanks in advance Link to comment Share on other sites More sharing options...
Thirsty Relic Posted November 13, 2020 Share Posted November 13, 2020 I've never been asked questions like that, nor would expect such questions. The company I pay my ground rent to tried a few years ago to get retrospective fees for permissions for any improvements I'd made to the property (like double-glazing, central heating), telling me I had to do such improvements over time as part of my lease (!), and had to get their approval, and then pay them fees for that. It sounded to me like a rip-off, so I simply ignored them and they stopped asking. Link to comment Share on other sites More sharing options...
sedith Posted November 14, 2020 Share Posted November 14, 2020 £2k to rid yourself of the Lease is not bad. Does that include solicitors fees? Jeffrey Shaw on SF is the one to give advice about buying the freehold. I payed around £5k going back 5 yrs. Link to comment Share on other sites More sharing options...
Ggg Posted November 14, 2020 Author Share Posted November 14, 2020 Thank you for both replies. Price includes their fees. They said we needn't get our own solicitor but would have to register with land registry ourselves? Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted November 15, 2020 Share Posted November 15, 2020 On 14/11/2020 at 14:31, Ggg said: Thank you for both replies. Price includes their fees. They said we needn't get our own solicitor but would have to register with land registry ourselves? Well, they would say that wouldn't they? Perhaps they're telling the truth; perhaps not. I'd suggest not paying-over a large amount to a landlord whose bona fides you doubt. Oh, and: a. how many years are unexpired on your lease; and b. how much is the ground rent each year? If the unexpired term is long (> 200yrs) and the ground rent is low (< £50), the £2000 sounds too high. Link to comment Share on other sites More sharing options...
geared Posted November 16, 2020 Share Posted November 16, 2020 On 14/11/2020 at 14:31, Ggg said: They said we needn't get our own solicitor but would have to register with land registry ourselves? Regardless of what you end up doing, ALWAYS get your own solicitor. Link to comment Share on other sites More sharing options...
Ggg Posted November 16, 2020 Author Share Posted November 16, 2020 Thank you both for your replies and advice. Think we do need to get solicitor. Thanks again. Link to comment Share on other sites More sharing options...
topflat29 Posted November 25, 2020 Share Posted November 25, 2020 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 Link to comment Share on other sites More sharing options...
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