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Increasing the lease where I jointly own the freehold?

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G
The Voice of Reason



Joined: 02 Feb 2002
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PostPosted: 01:41 - 16 Mar 2010    Post subject: Increasing the lease where I jointly own the freehold? Reply with quote

I’m selling my maisonette – for this I need to increase the current 53 year lease as the buyers mortgage company wants more.
I and the three other house owners of the block jointly own the freehold, so you’d think it SHOULD be easy.

However, the solicitor which is dealing with this for the maisonette below me who is also selling seems to be being rather slow and I need to get this done pretty quickly if possible.

Can anyone point me towards a legal company that can get it done quickly or possibly details of template docs/details of how to do it myself?
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panrider_uk
World Chat Champion



Joined: 23 Sep 2007
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PostPosted: 02:56 - 16 Mar 2010    Post subject: Reply with quote

I thought freehold meant there was no lease?

Mark
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The Original Muzza
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Joined: 09 Jan 2009
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PostPosted: 03:07 - 16 Mar 2010    Post subject: Reply with quote

panrider_uk wrote:
I thought freehold meant there was no lease?

Mark


He was just using big words. Like calling his fourplex a "Maisonette". Laughing
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slyrob
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Joined: 03 Jan 2010
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PostPosted: 03:29 - 16 Mar 2010    Post subject: Reply with quote

panrider_uk wrote:
I thought freehold meant there was no lease?

share of freehold means there is still a freehold and lease in operation just no independant freeholder. Usually when the share of freehold is created leases are extended to 999 years, presumably you and your neighbours are in charge of the company that operates the freehold? you need to use a solicitor who has experience in dealing with freeholder matters as even the specialist solicitors i use for buying and selling seem to have no knowledge on freeholder matters
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G
The Voice of Reason



Joined: 02 Feb 2002
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PostPosted: 18:33 - 24 Mar 2010    Post subject: Re: Increasing the lease where I jointly own the freehold? Reply with quote

I've called around a few and unfortunately it seems this is going to be pretty nasty - talking £1000 to £1500 and four to five weeks at least.
There's a company already dealing with it for another person who's selling up, but it seems they're a bit useless. I'm still wondering whether to stay with them as it should be overall a bit quicker or try and find someone that properly knows what they're doing.

fourplex - no, it's just that I don't live in a council estate in the 60s Wink.
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