my Leasehold/Freehold property and its issues.

[ericsbrother]

If they have separate entrances and ground footprint it would be worth considering selling the freehold of that part to the lessee but as you have written it the freeholder of the leashold property appears to live in the lease property. Does this mean that the f/h property has been sold on now creating an ownership problem?

Explain things more clearly including the history then you will get an answer

[ericsbrother]

then the person buying a lease get just that, no other rights. As for the GR, that is excessive so not likely to get a purchaser unless lease is 999 years.

 

Sounds like someone is being greedy and unless central London, unrealistic to boot as the selling price will reflect the other disadvantages so flat will likely fetch £40k less then a freehold

 

The big property developers have created problems with leases because of their greed and it is likely that there will be a change in the law that will make this lease untenable so no lender will touch it unless the purchaser has a massive deposit and if that were the case they would buy somewhere else with less onerous conditions

Edited March 12, 2018 by honeybee13
Paras

[ericsbrother]

why are you inventing scenarios that dont actually have any grounding in reality and then asking more questions based on a totally different situation. Give us some facts and you will get worthwhile advice.

 

So are you the leaseholder of the flat in question? How long is the lease? Do you intend to try and buy the freehold? If not what is this about?

Edited March 15, 2018 by Andyorch
Paras

[ericsbrother]

You still havent said anything about which party you are or what is your interest it in this. but it seems to be that you have to keep referring back to someone else You havent said how long the lease is or answered any of the other pertinent questions. It is not split into 2 lease units, they are not units for starters.

 

It is a freehold property owned by a person who happens to have leased out part of that. No lessee has the right to purchase the freehold but IF there are separate entrances and a separate footprint then it would be wise for them to enquire whether the freeholder would be willing to sell the freehold for that property. If it has its own footprint then the leaseholder may have the right to purchase the freehold.

 

The fact that the freeholder lives in part of what was once one dwelling is irrelevant other than to say that part isnt subject to a lease unless they are particularly stupid in drawing up the lease on the part that is subject to the lease (or they had intended to sell both flats at the time the lease was created)

 

Imagine you on a taxi, you dont get charged on the mileage you do to get to work and if you took your kids to the seaside in your cab your next door neighbour cant force them to pay you to do so.

Edited March 18, 2018 by honeybee13
Paras

[ericsbrother]

Is the broker still in business?

[ericsbrother]

can you calculate your loss

- ie the difference between what you ended up payng compared to what you would have paid if the due diligence had been done.

 

Now it may be you wouldnt have got the loan if it was all legit but that is by the by.

It is the comparison between your bad deal and an honest one that is the figue you want.

Then let them know that you have suffered because of their slap dash commission earning activity and you wnat a refund.

 

When they laugh at you you go to the FCA and reason with them that all of the excess fees, add ons and whatever are down to the misrepreseantations of the broker about your position.

[ericsbrother]

simplest thing to do is tell the agents that as they are not following your instruction you are removing the property from their agency.

What they are trying to do is dangle a carrot to prospective buyers to get more interest and it may be that is the only realisitc way they can gte a sniff of a sale.

why on earth was the freehold purchase ever mentioned?

[ericsbrother]

why doesnt the freeholder just use the terms of the lease to recover the property themselves if it is becoming derelict? All propertly constructed leases will have a suitable term to allow this. the lender will then either have to make good themselves to protect their residual interest or just let the matter go and try and recover what they can for the mortgagee

[ericsbrother]

a judge made the statement that not opening letters when you know things are wrong is a dereliction of your responsibilites to yourself as well as to the "missing" person.

How rich or poor is relative? They could get solicitor to send a letter to both the bank and the PI to cease the harassment or an injunction will be sought and sue them for the harassment as well. This needs either about £8 grand spare cash or be poor enough to qualify for free court fees and do the work themselves

[ericsbrother]

Relative can also write to bank with a complaint about the deliberate processing of incorrect data but the problem in going down the data protection route is tht it is not THEIR data that is wrong but the missing homeless person's data. So a letter stating that the missing person has no connection with teh address and they should cease their harassment of an elderly person as it is  not only a criminal offence but also a breach of various codes of conduct they must adhere to

[ericsbrother]

yes both and others as well.

however if you are the one being sought there is nothing you can do without giving them another address for the service of documents. Any helpful relatives in Sicily?