Leasehold Issue
Discussion
Evening everyone,
Any help greatly appreciated.
My wife and I own a rental flat that is mortgaged, the freeholder is allowing the building to fall into such a bad state of repair in the hope of forcing us out as he wants to knock the block down. He owns 8 of the 9 flats.
We called our mortgage company and they generally said, it's your problem, deal with it....
We can't find a tenant due to water ingress and we have already spent thousands maintaining the building.
What are our options?
Any help greatly appreciated.
My wife and I own a rental flat that is mortgaged, the freeholder is allowing the building to fall into such a bad state of repair in the hope of forcing us out as he wants to knock the block down. He owns 8 of the 9 flats.
We called our mortgage company and they generally said, it's your problem, deal with it....
We can't find a tenant due to water ingress and we have already spent thousands maintaining the building.
What are our options?
desolate said:
paoloh said:
It isn't.
We'd be left about £10k out of pocket plus the large deposit we paid.
We'd lose about £30k in total.
If repairs to the building cost less than 30k it may be worth doing the work yourself.We'd be left about £10k out of pocket plus the large deposit we paid.
We'd lose about £30k in total.
Your freeholder is breaking the conditions of your lease if they refuse to carry out repairs they are responsible for.
Get advice from a specialist solicitir as you should be able to take your freeholder to court to force them to do the work. The court may also be able to order them to pay you compensation.
Report the problem to the council's environmental health department if disrepair means that your home is dangerous or damaging to your health. Through this the council can order the freeholder to do the work.
If your freeholder still doesn't get the work done, you are usually able to carry out the work yourself and claim the money back from the freeholder but again seek advice from a specialist solicitor.
Get advice from a specialist solicitir as you should be able to take your freeholder to court to force them to do the work. The court may also be able to order them to pay you compensation.
Report the problem to the council's environmental health department if disrepair means that your home is dangerous or damaging to your health. Through this the council can order the freeholder to do the work.
If your freeholder still doesn't get the work done, you are usually able to carry out the work yourself and claim the money back from the freeholder but again seek advice from a specialist solicitor.
Buy it off him.
http://www.lease-advice.org/advice-guide/collectiv...
Take over management....
http://www.lease-advice.org/advice-guide/right-to-...
http://www.lease-advice.org/advice-guide/collectiv...
Take over management....
http://www.lease-advice.org/advice-guide/right-to-...
Surely you are actually in the driving seat here? He wants to demolish and doubtless build something he's going to make a very nice profit or living out of? Your presence is preventing this. If you've got a long lease presumably you could hang this out for years and thwart his plans all the while.
Maybe Breadvan can suggest someone to put a shot across their bows or force a compromise where he buys you out or offers you a share of the redevelopment. Maybe blueg33 would even have a view from a developers perspective here?
Maybe Breadvan can suggest someone to put a shot across their bows or force a compromise where he buys you out or offers you a share of the redevelopment. Maybe blueg33 would even have a view from a developers perspective here?
I would suggest you obtain free legal advice from the Leaseholder Advisory Service, link below;-, the same is available by booking a 15 minute telephone appointment, when a solicitor will accord you free legal advice. Have to hand your Lease the same if you do not already have a copy can be obtained via a search of the Land Registry web site.
Disputes between Leaseholders and Freeholders or a Management Company is now heard before the First-Tier Tribunal (Property Chamber-residential Property)
https://clients.lease-advice.org/appointments.aspx
http://directory.lease-advice.org/
http://www.lease-advice.org/advice-guide/section-2...
https://www.gov.uk/housing-tribunals/overview
Disputes between Leaseholders and Freeholders or a Management Company is now heard before the First-Tier Tribunal (Property Chamber-residential Property)
https://clients.lease-advice.org/appointments.aspx
http://directory.lease-advice.org/
http://www.lease-advice.org/advice-guide/section-2...
https://www.gov.uk/housing-tribunals/overview
JPJPJP said:
Why not offer it him for £90k
On the basis that you have already taken legal advice and are ready to push for the repairs etc. if £90k isn't forthcoming?
It might be worth £40k over his initial offer to get the full ownership
We said he could have it for £75k. On the basis that you have already taken legal advice and are ready to push for the repairs etc. if £90k isn't forthcoming?
It might be worth £40k over his initial offer to get the full ownership
He said no.
He knows he holds all the cards and is just pushing us to brink of falling over.
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