Lender hasn't re-possed freehold

[pocster]

Hi all,

 

I own an upstairs flat in a block of 2. We have the standard criss-cross lease arrangement i.e. we own each other's freehold and lease to each other. Sometime ago the ground floor flat got repossessed.The lender though for some reason does not have a charge over the freehold title (I guess an error was made with the title/lease originally?).

What issue does this cause the lender with resale. I am the freeholder and they haven't contacted me.

Do they *need* my consent for this? i.e. they can't resell the flat until they have a charge over the freehold?

What happens if I say "no" ; what can they do???

 

thanks in advance

[mariner51]

Is the correct freeholder fr each flat recorded at Land Registry?

When did you buy?

[bellijayne]

I could be way of track here but going by memory as you are a Freeholder and jointly with the other Flat - you're untouchable. Both parties have to agree to any changes made to the Property and or Premises. No you can't be forced to sign for a new Lease or a Variation of the Lease either. Avoid at all costs the LVT as they tend to be biased towards who has the best solicitor.

Also to remember here too:

The Lease is signed contract under seal, once the Mortgage is redeemed for the considered sum - it's yours. You've no need to worry about the Fee Simple whether or not it's in the Lease as it's yours by buying the Freehold. The only downside I can see is if the former Lender wants to rock the boat later in that they sell the Flat & retain the Freehold so as to become a bully. It may transpire that they'll be difficult as to say insuring the building? Hope this helps.