• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Minister announces end to new-build leaseholds

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #11
    Originally posted by vetran View Post
    Problem is that as more leaseholders are involved the harder it is to get a decision. Probably best if large blocks are professionally managed.
    The key is for the flat leaseholders to own freehold via corp entity (plus have long like mine leaseholders of 900+ years with peppercorn rent), for houses leaseholding does not make sense

    Comment


      #12
      Originally posted by AtW View Post
      Yes and that’s why leaseholds on flats like mine should work via freehold assigned to the company in which leaseholders own equal shares - this way service fee is managed but no crazy tulip can happen as easily as in most new big tower flats
      In which case you need to pay special attention to the running of the Freehold Ltd Co. Make sure the company does not get into a situation whereby it can have a compulsory winding-up order. Make sure it has a substantial sink (sinking) fund for unseen eventualities.
      "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

      Comment


        #13
        Originally posted by vetran View Post
        Problem is that as more leaseholders are involved the harder it is to get a decision. Probably best if large blocks are professionally managed.
        The issue is that there are not enough good quality management agents. The vast majority that i have dealt with have been utterly woeful and tend to side with the freeholder.

        Comment


          #14
          Originally posted by Martin@AS Financial View Post
          The issue is that there are not enough good quality management agents. The vast majority that i have dealt with have been utterly woeful and tend to side with the freeholder.
          That's the whole point - I am effectively a freeholder by virtue of owning part of the company that owns freehold, the management company that actually does work in the building is hired by the company that owns freehold, ie - us (I am one of the Directors there), we approve things to be done.

          Granted it's a small block of just 8 flats, a lot easier to deal with fewer people involved.

          Comment


            #15
            Originally posted by Martin@AS Financial View Post
            The issue is that there are not enough good quality management agents. The vast majority that i have dealt with have been utterly woeful and tend to side with the freeholder.

            sounds like an area that needs legislation then.
            Always forgive your enemies; nothing annoys them so much.

            Comment


              #16
              Originally posted by Paddy View Post
              In which case you need to pay special attention to the running of the Freehold Ltd Co. Make sure the company does not get into a situation whereby it can have a compulsory winding-up order. Make sure it has a substantial sink (sinking) fund for unseen eventualities.

              precisely or they run up the list of shared jobs and they sell their flat before the bill becomes due.
              Always forgive your enemies; nothing annoys them so much.

              Comment


                #17
                Leasehold: a Mortgage Strategy investigation

                Good article from Mortgage Strategy

                Leasehold: a Mortgage Strategy investigation - Mortgage Strategy

                Comment

                Working...
                X