Dami Ade

Registered with Property118.com
Friday 7th April 2017


Latest Comments

Total Number of Property118 Comments: 5

Dami Ade

11:16 AM, 4th February 2019
About 10 months ago

Big problem and legal costs extending my lease!

Reply to the comment left by Clint at 07/06/2016 - 10:50I'm currently negotiating my lease extension premium with the freeholder to no avail. I've not owned it for up to 2yrs so I'm standing on the assignment of the S.42 Notice. It will be 6 months in 4 weeks since the counter notice was received so I shall now apply to the FTT for determination of the lease premium and other terms. Advise appreciated!... Read More

Dami Ade

12:29 PM, 11th April 2017
About 3 years ago

Worried about the effect of doubling ground rent on extending or selling?

Reply to the comment left by "Paul Green" at "11/04/2017 - 11:46":

Thanks Paul. I won't hold it that long. It has about 120yr left. The only reason I'm considering extending is cos of the high ground rent increments.... Read More

Dami Ade

15:53 PM, 10th April 2017
About 3 years ago

Worried about the effect of doubling ground rent on extending or selling?

Reply to the comment left by "Laura Delow" at "10/04/2017 - 15:46":

I understand I can extend under s.42 if I negotiate that with the seller now.
If he serves the notice he can assign it to me. If I don't go down that route I need to know how much it's likely to cost me.
In 10 years it'll be 110 years left.... Read More

Dami Ade

12:17 PM, 10th April 2017
About 3 years ago

Worried about the effect of doubling ground rent on extending or selling?

Reply to the comment left by "Ian Cognito" at "10/04/2017 - 09:56":

Thanks Ian.
They're about 12 other leases in this freehold title and only this one and another have been extended since the original lease was granted in the 60s.
Will it be financially beneficial to seek to extend under statue now or wait till another 10years when I'm looking to sell? I worry that it'll put buyers off at that point. Two buyers already pulled out of purchasing this property in the past year.

About how much will it cost to extend under statute or to buy a share of the freehold?
Thank you.... Read More

Dami Ade

15:21 PM, 7th April 2017
About 3 years ago

Ground Rent doubling every 10 years - when to sell

Solicitors have just informed me the maisonette I'm purchasing has it's ground rent doubling every 25yrs. It's currently £250 with 122yr remaining on the lease.

If I were to extend it statutorily, about how much will it cost and will think it was worth doing?... Read More