Hamish Kennedy

Registered with Property118.com
Sunday 5th April 2015


Latest Comments

Total Number of Property118 Comments: 3

Hamish Kennedy

18:50 PM, 26th December 2016
About 3 years ago

Taylor Wimpey lease - cost of escape?

Hi Eddie
I also bought my flat in 2011 as well starting at £250 and doubling every 10 years . I have just only recently started looking at my options again having also read the Guardian articles. I am currently looking into lodging a professional negligence claim regarding the onerous ground rent clause. I have not investigated further how much it would be to extend the lease but I think it would be too expensive.
Do you mind me asking what development you invested in ? And have you looked into how much it would be to extend the lease using the Statutory procedure.... Read More

Hamish Kennedy

20:33 PM, 13th August 2015
About 4 years ago

Taylor Wimpey lease - cost of escape?

Hi Shakeel thanks for that if I am keeping it long term I would probably be better off paying for the statutory 90 year lease extension soon and save on future ground rent and eventually when it is put up for sale it should be a lot easier to sell at good price.... Read More

Hamish Kennedy

19:19 PM, 13th August 2015
About 4 years ago

Taylor Wimpey lease - cost of escape?

Hi Dennis I am in a similar position having purchased a 2 Bed Flat from TW at the end of 2011 on a 125 year lease starting in Jan 2008 at £250 doubling every 10 years to a maximum of £8000 . I also was badly advised by Solicitor. On the positive side the flat produces a good rental yield. My exit strategy with this Buy to let and my other two is to leave them to my Daughter. But I would obviously prefer to find away around this issue as it stands with the ground rent clause and the length of the lease - it would make it difficult for me or my Daughter to sell. I did look into applying for a statutory 90 year lease extension with peppercorn rent in Dec 2013 but I was advised it could cost me about 16 K plus costs which would probably taken to it to about £20000 which I could not afford at that time.
Any advice from yourself Dennis if you have made up your mind about what to do or any other 118 members would be most welcome.
Thanks
Hamish... Read More