Dylan Morris

Registered with Property118.com
Saturday 27th August 2016


Latest Comments

Total Number of Property118 Comments: 429

Dylan Morris

10:34 AM, 7th April 2021
About 5 days ago

Keep or sell leasehold with ground rent increasing formula?

Reply to the comment left by Jim Littlehampton at 07/04/2021 - 10:23
Well that’s good news Jim that the property is mortgageable. I somehow doubt any leasehold reforms are going to apply to existing leases (ie. retrospectively).
I have a rental flat where the lease increases along with inflation linked to RPI with reviews every 15 years. Went up this year from £170 to £260 not bad really, but inflation has been low over such time. We could be in for a period of high inflation in the future, which could work for you in a way. Your ground rent increases of £250 every 10 years may look reasonable if the increase had been around this much with inflation anyway.
Good luck with the flat and your excellent 9% yield.... Read More

Dylan Morris

9:55 AM, 7th April 2021
About 5 days ago

Ground Rent makes property an AST?

Forfeiture of the lease has to be granted by the Court so there will be a hearing with the relevant circumstances taken into account.... Read More

Dylan Morris

12:04 PM, 5th April 2021
About 6 days ago

Keep or sell leasehold with ground rent increasing formula?

Sounds like your purchase price included the expensive ground rent reviews, hence why the yield is attractive. Do you buy for cash rather than a mortgage ?... Read More

Dylan Morris

10:12 AM, 5th April 2021
About 7 days ago

Keep or sell leasehold with ground rent increasing formula?

You’re unlikely to sell to somebody who needs a mortgage as I doubt any lender would be interested. So your only option is to find a cash buyer where your sale price will be much lower. At 9% yield why not just keep. It’s funding your retirement which was your intention and when you pop your clogs your kids will just have to sell for whatever they can get. (Presumably you knew about the ground rent before you purchased ? )... Read More

Dylan Morris

10:38 AM, 30th March 2021
About 2 weeks ago

One member of RTM not paying critical bill?

What you can’t do as an RTM is enforce the forfeiture of the lease. This powerful threat is often the only way you can actually obtain service charge payments. A CCJ is all well and good but doesn’t always mean you will receive any monies.
This is often overlooked when arranging an RTM. As Bernie says you could ask for the help of the freeholder. Only they can threaten forfeiture but if the RTM was set up without their favour (most often the case) then your chances of actually recovering monies owed can be slim.
On another issue your RTM needs to comply with GDPR as you will be a data Controller so ensure you’ve registered your company with the ICO and are following all the correct procedures. ie, regular data audit, issuing privacy notice etc. Again this is often forgotten when setting up an RTM.... Read More