Legal mumbo jumbo!?!

cmsbfent

cmsbfent

cmsbfent

Associate
Joined
10 Apr 2003
Posts
1,002
Location
hither
hey folks..

Just got in to be greeted by the following letter.. no idea what it means??

------------------------------------------------------------------------

RE: Sale of freehold reversion - (my address here)

I am the in house solicitor for Debut Freeholds Limited and enclose, by way of service upon you, a notice pursuant to section 5 of the landlord and tenant act 1987.

The notice constitutes an offer by my client company to dispose of its freehold reversionary interests in Plots 1 (to etc.. my adress here)

I would strongly recommend that you seek your own independant legal advice in respect to the contents of this letter

Yours faithfully

------------------------------------------------------------------------

So, yeah, not a clue.. anyone??

Cheers
 
The notice constitutes an offer by my client company to dispose of its freehold reversionary interests in Plots 1 (to etc.. my adress here)

THAT is what the letter's about
 
Sounds like they are going to try and make you homeless. They are going to remove the freehold which means that they will make it leasehold and if you own the house that is a very bad thing indeed.

Seek legal advice asap!

Oh and research the firm which is trying to do this, it could be a hoax. But nonetheless proceed with due diligence.
 
As Volatr just gave such... confusing.. advice I'll say a bit more than I did in my previous post.

My reading of it is that you live in a flat to which you own the leasehold - usually a 1000 year leasehold. Whoever owns the freehold, usually the managing company, are wanting to sell their rights onwards. They have to let you have the first chance to buy it though. That's what they're doing. It won't make you homeless.
 
Last edited:
Yup, the house is mine.. mortgage payments started 7 months ago.

A thanks for the google / THAT is what the letter's about replies.. handy :rolleyes:

So anyone without a stick up their arse care to explain.. excuse me for not being up to date with tenancy law etc etc etc etc

:)

fini.. all is forgiven. Big hug
 
cmsbfent said:
Yup, the house is mine.. mortgage payments started 7 months ago.
Click to expand...

If it's a house rather than a flat then it would be unusual for it to be leasehold and thus the letter wouldn't make to much sense to me. To confirm - do you own the freehold rather than a leasehold (you can be 'owning' it paying a mortgage and yet only own the leasehold (this is what people owning flats do)). Do you know what's down on the land register?
 
The easy-buy option, i think, is simply a loan that redrow offered at time of purchase. 10% of market value to help when unable to get full mortgage value. 10 years interest free, and you only pay back what you loaned i.e lend £7500 now, give them back £7500 in ten years times - not 10% of value of home in ten years time.

Cheers though
 
fini said:
If it's a house rather than a flat then it would be unusual for it to be leasehold and thus the letter wouldn't make to much sense to me. To confirm - do you own the freehold rather than a leasehold (you can be 'owning' it paying a mortgage and yet only own the leasehold (this is what people owning flats do)). Do you know what's down on the land register?
Click to expand...

Houses can be leasehold too... We own our house, but it's leasehold for 999 years (less 20 or whatever) and we only pay £5 ground rent a year.
 
hey fini,

Not sure whats down on the land register as cant get my hands to it at the moment, but basically, its a 1 bedroom, 2 storey 'maisonette'.. like the ones here:

http://www.redrow.co.uk/developments/view/25

There is a monthly lease fee which include general maintanance of gardens etc, and electricity and water charges.

Actually, just found a letter that states the title on the register is 'Absolute Freehold'

Hmmmmm
 
vonhelmet said:
Houses can be leasehold too... We own our house, but it's leasehold for 999 years (less 20 or whatever) and we only pay £5 ground rent a year.
Click to expand...

Oh I know they can be it's just, as I said, unusual. You're right though with the 999 - I meant to type 1000 rather than 100, woops!

It sounds like the leasehold is only over what are communal gardens then. You might want to get together with your neighbours - whoever uses/pays for the garden - and ask them what they're feelings are about it. Your options are really either let them sell it on to someone new and you probably wont notice any difference or buy it as a group, appoint someone chairmen with you each getting shares in a not for profit managing company (sounds more complicated than it is). That way you get more control over what is spent and how.
 
You must log in or register to reply here.
Back
Top Bottom