Jump to content


Recommended Posts

 

Hi we have issued a Sec42 notice (taken from a template) on our freeholder, who’s address we obtained from the land registry,

Who were solely listed as the freeholder..We have received a response dated 28 days later requested further information . The information requested is for evidence that our S42 was served on the Man co, we did send them a copy by first class Mail on the same day as the notice. 

We note, mainly the bold part ....

 

“ Once the notice has been submitted, a strict timetable comes into effect:

(i) The date of submission is considered to be the “Valuation Date”. So, however long the process takes, only the value of the lease extension on the valuation date will be considered as relevant to this application. It also freezes the length of the lease for assessing the premium. This fixed date is very important for leaseholders who want to avoid being on the wrong side of the 80 Year Rule. As long as you have submitted your application before the 80 Year deadline, you are safe.

*(ii) The landlord may request further information, which they must do within 21 days of receipt of the Tenant’s Notice. The leaseholder must respond to this request within 21 days.*

(iii) The landlord now has 2 months to respond with his own offer. This is known as the “Landlord’s Counter Notice” or “Section 45 Notice”. The landlord’s response might be:

(a) To deny that you qualify. This is unlikely to happen if proper checks are carried out prior to the application.

(b) If they recognise that you qualify, they can demand a deposit of 10% of your offer or £250, whichever is the greater. Remember that the leaseholder is liable for their own and also the landlord’s reasonable valuation and conveyancing costs (but not for the hearing or any negotiations). The landlord may then submit their counter offer. If their offer is unacceptable, your valuation surveyor can respond to it and negotiate on your behalf.”

 

 

As the freeholder request for information was past the 21 day timeline,  are we within our rights to ignore this request, and just send the deposit?

we are currently looking to appoint a lease extension expert to take on our case, as it seems more complex than we first thought. 

But we have to respond soon and would like some advice. 

Thanks in anticipation 

 

 

Share this post


Link to post
Share on other sites

In principle yes, they're out of time, however,  like all sort of conveyance I prefer to employ a professional. 

For the sake of a few hundred pounds they do all the work and know all the tricks and loopholes.

They're also insured in case they mess it up.

My advice: employ a lease specialist solicitor and stay away from the cheap internet firms.

  • Thanks 1

Share this post


Link to post
Share on other sites

they are timed out so if it goes to a valuation tribunal it will count against them but other than that it means very little.

Is there anything in their request that is frivolous or awkward for the sake of it? If not just accept they are trying to get the most they possibly can and you are trying to pay the least that you can. If they want a ridiculous amount then you would be advised to get someone to do the negotiating for you and that person shoudl be legally qualified and professionally insured so you have comeback.

  • Thanks 1

Share this post


Link to post
Share on other sites
Posted (edited)

Thanks for the response 

 

Their request is only to asks for the evidence that we served the notice upon the Management co who was named on our lease along with the previous Freeholder.( we sent them a copy via 1st class mail) We carried out an online land registry search and the recent freeholders name is souly listed, that's who we served the notice to. We don't want them to throw a spanner in the works over this. We note the solicitors are NOT shall we say leaseholder friendly by their reviews, maybe we should have got proof of posting.

By the solicitor also demanding 10% we hope this means they recognize that we qualify. We are armed with recent outcomes of other leaseholders outcomes on our development that show the cost to be between 6-8k to extend the lease. On receipt of their counter offer we will instruct a expert solicitor. If the offer is too high we will have to instruct a lease extension specialist.  If we get it for under 9k we would have made a substantial saving on cost    

Edited by DESAMAX

Share this post


Link to post
Share on other sites

If you read it properly,  the 10% is only for them to look at the paperwork and doesn't give any assurance. 

They are leeches, so be extremely careful with what you sign, that's why I suggested a specialist

Share this post


Link to post
Share on other sites

letters deemed to be delivered 2 days after posting so sols are just time wasting to keep the taximeter ticking over.

all you need to do si send them a copy and say it was sent by 1st class post to such and such address ( reg office presumably)

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...