Check s28 under the L&T Act 1985 .
Type: Posts; User: Gordon999; Keyword(s):
Check s28 under the L&T Act 1985 .
So how many years left on the current lease with 10 yearly ground rent revisions ?
You may need to seek a "statutory 90 lease extension" at peppercorn rent to kill off the silly 10 years ground...
You should look at sticky no.3 above your thread and at part 11 which deals with audit for service charge accounts.
Or you could buy a copy of the RICS residential Management Code from RICS online...
Buy a copy of the leasehold title and site plan from Land Registry and check if the garden area is demised with the flat. Usually demised area coloured in red on the site plan.
There must be a difference in value between a 99 years lease at 250 pds GR and 156 years at peppercorn ground rent.
If you hold and decide to sell in 20 years time, the 99 years lease will be...
Yes, I think your calculation is more correct.
So your est'd capital gain = 70K - 5K -3K ( improvements ) = 62K
and est'd CGT = 62K x 28% rate = 17.36K
If the GR is just 1 pd per year and 900 years lease, you could offer to buy the freehold title for 20 pds + conveyancing costs .
If the existing wooden window frames after 30 years life are becoming rotten , then it may be best to replace all the window frames at the same time for the whole block so that all flats can be...
There are free guides on statutory lease extension procedure and calculating the cost , available by download from www.lease-advice.org
You can calculate the rough cost of statutory extension...
But will the current lender allow you to transfer to joint names under the existing mortgage ?
You are only required to pay whatever figure is stated in your lease. You can refuse to pay a higher figure but you should apply to the LVT to get the figure reduced. Read your lease and see what...
Usually the company holding the freehold title will have rules to require members to be leaseholders in the block and after any sale, the share in the company would be transferred to next...
The name of the freeholder will be stated on your annual ground rent bill.
I think the RTM needs to have power to veto undesirable tenants who cause problems for other residents living in the...
Is there any wording in your lease mentioning "lessee is entitle to quiet enjoyment living in the flat" ?
Is there a written demand from the freeholder company or a managing agent or solicitor ? What is the precise wording in your lease requiring the Lessee to pay a fee to lessor for what ? consent ?...
Is the current freeholder same as 15 years ago ? Did you own the flat 15 years ago ?
Perhaps you could point to the Limitations Act- and say you have not kept any records more than 6 years.
1. What do you mean by "horrendous interest rates" and what size of loan are you seeking ?
2. Anyone buying property by cash usually has to wait 6 months before they can apply to mortgage the...
What does wording in your lease say about payment of service charge ? Is it payable for one year in advance ?
Ground rent must be paid in advance according to the lease but service charge...
The best practice guide on service charges by ARMA LN08 says you can issue separate service charge accounts to the annual accounts required for filing at Companies House(CH)
...
Where is the damp patch located inside the flat ?
You should be looking to see position where on the outside wall, the dampness is entering the flat and try to stop the rainwater ingress.
The building belongs to the freeholder.
If its an old building, you may have get a bricklayer to repoint the cracked or fallen out mortar in external brick wall and to place a chimney cap over the...
The requirement to produce audited accounts within 6 months from end of reporting period is in S21(4). See sticky posted by LHA many moons ago.
...
The solution may be to fit a cap over the chimney orifice - http://www.chimneycap.co.uk/tech.htm
You may qualify under the government scheme if you choose a new build house ;
http://www.helptobuy.org.uk/help_to_buy.aspx