Fraser Maldoom

Registered with Property118.com
Thursday 18th August 2016


Latest Comments

Total Number of Property118 Comments: 9

Fraser Maldoom

9:13 AM, 8th December 2017
About A year ago

Lease Extension and RPI effect on sale and marketability?

You are right to be suspicious of RPI ground rent increases as their effect on marketability has yet to be tested. To see how what you have been offered compares with the statutory basis to which you are assumed to be entitled (subject firstly to 2 years of ownership) try a lease calculator http://www.capitalleasehold.co.uk/lease-extension-calculator/ before obtaining expert professional advice. Do not let any more time slip by!... Read More

Fraser Maldoom

11:52 AM, 17th December 2016
About 2 years ago

Second Floor Extension to my First Floor Flat

Have you checked whether the existing roof and the air space above it is included within your lease?... Read More

Fraser Maldoom

23:58 PM, 11th December 2016
About 2 years ago

Ground Rent doubling every 10 years - when to sell

Reply to the comment left by "sash Dublish" at "04/02/2016 - 22:48":

As you appear uncertain as to the basis of review you should take profesional advice on the likely cost of serving a S42 notice to extend the lease now... ie to reduce your future ground rent to a peppercorn... It might well prove worthwhile to do so.... Sorted!... Read More

Fraser Maldoom

12:20 PM, 5th December 2016
About 2 years ago

Advice on selling Freehold please

The confusion in the question goes to show the importance of taking competent professional advice... Assuming that you had created the leases prior to selling the first two flats, you might have considered (with your freeholder hat on) selling the freehold before (with your leaseholder hat on) assigning all three leases thus avoiding the potential complication of Right of first refusal...... Read More

Fraser Maldoom

12:01 PM, 2nd December 2016
About 2 years ago

Advice on selling Freehold please

Good news: there is very likely to be a bit more (bonus) value in this than just a multiplier of the ground rents... From what you say these 3 leases have about 62/63 years left to run so the leaseholders should be wanting to extend their leases and on the face of it "marriage value" will be payable. To find out how much each of them should be thinking of paying for a lease extension you can get a rough guide using a calculator so long as you have an idea what each of the flats is worth with a good long lease (then add them up to give approx value for the freehold). This calculator should guide you (it's easier to use than most!): http://www.capitalleasehold.co.uk/lease-extension-calculator/
If you do want to sell then you will need to get specialist advice from a solicitor familiar with "The Right of First Refusal" - Part 1 of the Landlord and Tenant Act 1987as amended by the Housing Act 1996 - http://www.lease-advice.org/advice-guide/right-of-first-refusal/
You shouldn't sell without taking advice on value from a local surveyor familiar with lease extension values.... Read More