Expiring Lease on House

[leaseholdanswers]

OK

But I still don't see how that affects a tenants right to buy the FH

tim

But my answer, quoted, was in response to a differer question, no this one....

RD value to a landlord, though minimal in this case it seems, affects a negotiated surrender, the landlord gets his sticky mits on the site much sooner. He would likely pay a premium for that.

[leaseholdanswers]

Sorry I know it's not going to say directly, but where it might hint at more freeholder rights once you do go this route.

I know you can't re extend again after you go this route.

Under the current lease he cannot repossess for redevelopment but under the 50 year extension the FH can with compensation of course.

[faustocoppi]

Under the current lease he cannot repossess for redevelopment but under the 50 year extension the FH can with compensation of course.

Hi

Have there been any former cases of this?
Where a freeholder has then taken back the property.

Or Where the freeholder suddenly gets more rights?
None of the sites that talk about a 50year lease talk about the implications of this.

[leaseholdanswers]

Hi

Have there been any former cases of this?
Where a freeholder has then taken back the property.

If you had as psoted read the legislation you would see its in section 17.
http://www.legislation.gov.uk/ukpga/1967/88/section/17

Freeholder gets more rights

come on you are reading far too much into it.

Whether the house can be redeveloped is a matter of professional assessment and a decision based on risk of seeking the 50 year extension, and the potential rewards to offering an early surrender.

Quit googling around for the answer, you are wasting your time. Your friend needs to make a decision.You have the options.

[Gordon999]

This LVT case may help your friend:

http://www.lease-advice.org/decisions/67pdf/269.pdf

[tim123456789]

But my answer, quoted, was in response to a differer question, no this one....

RD value to a landlord, though minimal in this case it seems, affects a negotiated surrender, the landlord gets his sticky mits on the site much sooner. He would likely pay a premium for that.

Perhaps I got lost in the threading, but I thought that you were responding to me when I asked (something like):

"Why would the RD value to the FH be worth more than the current value to a new buyer who can afford to buy the FH".

And I still don't see the relevance of the 50 year extension to this question - because the new buyer is not going to take the 50 year extension he's going to exercise his rights to buy the FH (albeit after a 2 year wait)

tim

[leaseholdanswers]

its a good question. There are a number of reasons based on the nature of the buyer, hope value, marriage value (not in the FH/LH) sense, finance and transactional costs,and the different valuations between an open market sale and enfranchisement.Opportunity cost in the yields also factor in.

In any given situation they might be the same or more advantageous to another buyer. That's why its important to have a valuation done so as to assess the position on any particular house. You might even come across restrictions on the house for development which the freeholder might not enforce on themselves, but a new freeholder might still be bound by as a restrictive covenant.