Freeholders blocking sale of my flat?

Freeholders blocking sale of my flat?

9:37 AM, 2nd May 2023, About 2 years ago 18

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Help! I desperately need to find a way to sell a flat with over a 900 year leasehold. The flat is in a small conversion of 7 flats . The other 6 are owned by a family who all have a share of the freehold.

Since I purchased the flat about 14 years ago, we have never had a sinking fund or management company in place.

I have continually asked for one to be in place but the family do not want one involved and prefer to just look after the block.

I do not pay ground rent or service charge.

I have tried to sell the flat a number of times but the lack of management company has stopped the sale from proceeding.

I have even tried a cash buying company that offered a ridiculous 35% lower than market value, in fact less than I originally bought it for, but the landlord has refused to fill out the LPE1 form which meant they also pulled out of the sale.

Certainly there must be a way I can sell a great 2 bed flat in central location of Leicester ideal for investment or first timers. The price would be approx £150k which is in the range of cash buyers. I would even consider auction and taking a hit on the asking/market price.

Please, can anyone help me find a way around the freeholders lack of cooperation?

Or any good legal advice.

I am concerned as I have another 10 years left on an interest only mortgage and do not want to be left with the debt.

There must be a way around this without losing tens of thousands of pounds simply due to filling out forms and lack of management company.

All suggestions greatly appreciated.

Stephen


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SK

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13:44 PM, 8th May 2023, About 2 years ago

That's what I keep telling myself. I wish I had been advised. The solicitor that dealt with looks like they have closed. I googled them yesterday. Closed in 2016.

Puzzler

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13:54 PM, 8th May 2023, About 2 years ago

Your best bet is to approach the solicitor you are using for the sale and make sure they understand the problem. They will advise you on the content of the lease. There is no way to avoid the cost of doing that but if part of the conveyancing it will be worth it.

The form itself is not mandatory I believe

R1biker

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12:43 PM, 21st April 2024, About 7 months ago

Reply to the comment left by Judith Wordsworth at 02/05/2023 - 12:02
If your freeholder does not respond or responds late then you can apply to the County Court to acquire the freehold on the terms of the Section 13 notice within 6 months from the date the counter-notice was supposed to be given. Buying the freehold can be a difficult process.
I've been in a similar situation where my freeholder refuses to provide ANY documents. Loan application never completed. expired bridging loan. repossession proceedings and almost commit suicide. FREEHOLDERS need shooting! Try a STATUTORY DEMAND and claim the amount you've lost since his refusal to assist you in completing the LPE1. I thought that was a solicitors' job! LOL

R1biker

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12:47 PM, 21st April 2024, About 7 months ago

DPT

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12:57 PM, 21st April 2024, About 7 months ago

Book a call with the Leasehold Advisory Service. Their solicitors will ask you to send a copy of your lease in advance. Its been a while since I used them, but when I did it was a free service.

R1biker

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13:13 PM, 21st April 2024, About 7 months ago

Reply to the comment left by T G at 06/05/2023 - 05:06
Sue the freeholder for obstruction with malicious intent, to deliberately prevent you from selling your property is causing you a financial loss and exposing you to the risk of loss. i almost lost my property last year AND have incurred £235,000 in interest [brdging loan], legal court, court costs, bailiff costs. And almost lost my life too due to 4 years of mental torture / chronic stress. STATUTORY DEMAND [gives him 18 days to respond]. If after 21 days, he doesn't respond, then issue a Creditors Petition for Bankruptcy
https://www.gov.uk/government/publications/demand-immediate-payment-of-a-debt-from-a-limited-company-form-sd1 IF HE FAILS TO COMPLY WITH THAT DEMAND, ISSUE HIM WITH THIS: https://www.gov.uk/government/publications/apply-for-creditor-bankruptcy-debtor-fees-payable-immediately-form-bank-1

R1biker

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13:25 PM, 21st April 2024, About 7 months ago

Reply to the comment left by David at 21/04/2024 - 12:57
If you have 16 months to spare! They are the slowest Tribunal I've ever known. Out of 5 applications submittted there, I never got a resolution to ANY of them! It's best going straight to the top IMHO.
CCMCC online.
Claim form N1.
Stat Demand [SD1]
Breach of Contract? Have you tried this?
He has legal obligations and duties to uphold as well as the Leaseholder. So if HE breaches the covenants in the Lease, then you can sue him for breach of contract. And if its money you've lost, he has a legal duty to insure the building and "WHEN A PERSON OCCUPIES A POSITION IN WHICH HE/SHE IS EXPECTED TO SAFEGUARD THE FINANCIAL INTERESTS OF ANOTHER PERSON AND DISHONESTLY ABUSES THIS POSITION WITH THE INTENTION TO MAKING A GAIN OR CAUSING ALOSS TO ANOTHER PERSON OR EXPOSING THEM TOTHE RISK OF LOSS, This constitutes a criminal offence under Section 4 of the FRAUD ACT 2006. Also look at the MISREPRESENTATIONS ACT. and CONTRACT LAW

Puzzler

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18:28 PM, 22nd April 2024, About 7 months ago

This thread has been revived after almost a year so I would be interested to hear the current situation from the original poster.

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