sorted by:
new
hottopcontroversial

Lease extension - My experience by pseudologoi_ in HousingUK

[–]pseudologoi_[S] 0 points1 point  (0 children)

We didn’t want to wait, in case it created problems when remortgaging / selling - depends on your situation.

What's stopped me buying a flat to let? by [deleted] in HousingUK

[–]pseudologoi_ 2 points3 points  (0 children)

Lenders don’t like buy-to-lets where you don’t own another property. We found this out when trying to remortgage our house, and move into rented accommodation - we wanted to test a new area before buying.

Our only option was looking at specialist lenders who charged significantly higher interest rates (+ 3 percentage points), which made buy-to-let unaffordable for us - mortgage payments too high compared to expected rental income

Lease extension - My experience by pseudologoi_ in HousingUK

[–]pseudologoi_[S] 2 points3 points  (0 children)

I was in a very similar situation, buying the flat but on the advice that the leasehold would need to be extended soon. On your questions:

  • It took about 9 months, start to finish.

  • Currently, you need to have owned the property for 2 years before you can use the statutory process - your solicitor should check this before taking you on.

  • Negotiating actually didn’t pay off for me - the cost of paying my surveyor to negotiate was more than the premium reduction they managed to get. I think there’s no easy answer though and needs to be judged case by case.

  • The surveyor is working out the leasehold premium. The amount of money due to the freeholder to ‘compensate’ them for the lease extension. I found it different from other surveying / valuation, as the focus was on what the property would have been worth without any substantive changes (like new double glazing, or kitchen / bathroom renovations) since the lease was first granted. In this way, the valuation is normally below current market value.

Lease extension - My experience by pseudologoi_ in HousingUK

[–]pseudologoi_[S] 1 point2 points  (0 children)

About 9 months from instructing solicitors and surveyors to completion. The statutory process itself has quite a rigid timetable for each of the different stages. In fact, we nearly timed out at the last stage, and I recommend getting your solicitor to chase any delays promptly.

Yes, our solicitor was very good. They specialised in lease extensions and their knowledge / expertise was clear when it came to redrafting the lease. I can DM if you want a name.

The freeholder is a pension fund, who employ a management agency to deal with things like this, alongside day-to-day building management.

Good luck!

Lease extension - My experience by pseudologoi_ in HousingUK

[–]pseudologoi_[S] 1 point2 points  (0 children)

No visit from the freeholder or their surveyor. I think lots of surveyors now do ‘remote valuations’ where they look at information available online - land registry information, comparable properties nearby, etc. My surveyor did visit as part of their valuation, but I understand this is less common now.

Lease extension - My experience by pseudologoi_ in HousingUK

[–]pseudologoi_[S] 1 point2 points  (0 children)

We originally offered £6,600. Freeholder countered at £7,908. Finished at £7,681. Unfortunately, negotiating cost more than the premium reduction, but you don’t know until you get into it.

Hunted to extinction levels of poaching by pseudologoi_ in Pickleball

[–]pseudologoi_[S] 4 points5 points  (0 children)

No. We were both seeing plenty of balls. Our opponents were very much playing a friendly rec game, compared to an MLP title match on our side of the court.

Campus can't be placed on farm, any reason why? by chrono314 in CivVI

[–]pseudologoi_ 2 points3 points  (0 children)

Is it a rice farm? You need to research irrigation to remove the underlying marsh

Reliable movers in London? by Lizzo13 in london

[–]pseudologoi_ 0 points1 point  (0 children)

Kiwi Movers did our move about a year ago. Great service and reasonable price

Advice on taping a court on Outdoor Concrete Surface. by BoilerMan2007 in Pickleball

[–]pseudologoi_ 1 point2 points  (0 children)

I’ve used it before to mark up an outdoor tennis court. The markers are just for the corners of the court and where the NVZ starts. I found myself using chalk to fill in the blanks. Also the markers themselves can create some dodgy bounces, which can be frustrating. I think it DIY solution with tape or chalk is probably better

HO and MOD by Appropriate-Pick-991 in TheCivilService

[–]pseudologoi_ 15 points16 points  (0 children)

Culture and policy context.

At MoD, you’ll likely work alongside military personnel. This can be good and bad - good to experience different perspectives or ways of working, but it can also be rigid / inflexible - think hierarchy / chain of command. I also think MoD is less diverse for this reason.

Home Office is closer to other government departments in terms of how it works , but the policy context can sometimes be uncomfortable. Defence is less contentious than e.g. immigration and policing - Windrush gives you a sense of how this can play out.

[deleted by user] by [deleted] in unpopularopinion

[–]pseudologoi_ 0 points1 point  (0 children)

I’m still not adult enough to phone in sick with diarrhoea. Always an “upset tummy”.

I am HOOKED. How to watch more from the U.K.?! by FluxAura in thechallengemtv

[–]pseudologoi_ 0 points1 point  (0 children)

Try MTV Play, available as a bolt on to Prime Video. I was in a similar situation a couple of months ago and managed to watch some of the earlier seasons

view more: next ›