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About berniewales

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  • About me
    Bernie Wales, FIoD, FIRPM
    Over 40 years’ hands-on experience with leasehold management and investment
    Started first company in 1984; Crabtree Property Management Ltd ... which was sold in 2002/2003, when managing 10,000+ units
    First-tier Tribunal / Leasehold Valuation Tribunal appointed Manager
    Consultant to national developers; such as Barratt Homes, Fairview New Homes
    Founding Fellow of the Institute of Residential Property Management
    Fellow of the Institute of Directors
    Speaker on:
    > Simon Zutshi’s Property Mastermind Programmes
    > Progressive Property Network’s Commercial to Residential Conversions courses
    > Joe and Jane Harling’s Commercial Conversions – Advanced Courses
    and others
  • Property investment interests
    Title split opportunities. Short leases.
  • My skills
    40 years experience of residential leasehold management and investment

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  1. Some leases require a 'Licence to Assign'. However, don't tell the freeholder you're going to sell just yet. Put the flat on the market - find a buyer - instruct your solicitor and your solicitor will get the licence (if needed). Happy to discuss. BernieWales.co.uk
  2. As a leasehold property manager of 40+ years ... and a freeholder, a leaseholder and buy-to-let landlord of long-leasehold flats ... I can confirm that your Limited company will have income in the form of rent paid by your tenant ... and expenses in the form of letting agent fees, ground rent paid by the company as leaseholder, service charge paid by the company as leaseholder, repairs and maintenance of the flat's interior paid by the company in maintaining flat, etc. Happy to discuss. BernieWales.co.uk
  3. Free information here > https://berniewales.co.uk/free-downloads/ In particular: The 3 Biggest Mistakes to Avoid When Buying a Leasehold Flat
  4. An initial ground rent of £200pa is not extensive in the scheme of things - and when linked to RPI the amount will remain the same in real terms, so will not be extortionate throughout the 999 year term. Purchasing the freehold from the current freeholder will not be extortionate - maybe 20 times ground rent, plus legal costs. That would be worth pursuing. Picking up on Julia's point above - you will have to abide by the terms of the lease, so read every word carefully and get your solicitor to explain it all ... and if he/she is not a leasehold expert, get a leasehold expert to expl
  5. Maria. I read your comment with sadness. Leitch have no compassion. If you go here and book an advice call > www.BernieWales.co.uk/leasehold-advice > I'll arrange a refund of the booking fee and I'll see what I can do for you. I'll need a copy of your lease and all the paperwork. Best wishes. Bernie Wales
  6. This short video gives an overview of Short Leases and lease extensions > https://youtu.be/1-y6UAomobQ?rel=0 Happy to discuss or recommend a specialist solicitor and/or valuer if needed.
  7. A breach of the lease ... is a breach of the lease. It's not a question of being serious or not. Similar to being pregnant - you either are or you are not. It's the same with a lease - you either are in breach or you're not in breach. But ... if you are (or the previous leaseholder was) in breach, the freeholder needs to do specific things (or not do specific things) in relation to that breach. Often they don't ... and consequently the "waive the breach". If you can prove they have waived the breach - often no further action can be taken against the leaseholder. It's a
  8. JB Leith are a hard-nosed firm of solicitors, who work for many freeholders and their managing agents. Their threatening letters follow a standard format and the majority of leaseholders roll over and pay. However, often the figures can be disputed - as they have often been calculated wrongly and don't comply with the terms of the lease (and/or Landlord & Tenant law). In those circumstances leaseholders should take the matter to the First-tier Tribunal (Property Chamber) for an independent Determination. Happy to assist those with "JB Leith problems". Go here > w
  9. Hi Clare Your solicitor is correct - you cannot be both freeholder and leaseholder. So, if you own the freehold personally (i.e. in your own name rather than a company name) you cannot grant a lease to yourself. If you had a company - you could own the freehold and you could grant a lease to your company (or vice versa). If you're intending to sell one or both flats, I suggest: 1. Create the leases in readiness for sales. 2. Find a buyer or buyers for the flats. 3. Find a buyer for the freehold - subject to the two leases. 4. Exchange on flat
  10. Hi Simeon My on stage catchphrase is R T B L .... Read The Bloody Lease! That's what you need to do here. The lease will contain a load of DOs and DON'Ts for the leaseholder (and the freeholder). If the leaseholder has not followed those rules - they're in breach of the terms of the lease. Depending on the severity of the breach (and the freeholder's actions in response) the freeholder can forfeit the lease. This involves serving a section 146 notice, under the Law of Property Act 1925 ... and then the freeholder needs to go to the County Court to get an Order for forfeiture.
  11. This short video might help all who are interested in short leases and what to do about them > https://youtu.be/cnAqA9UBvEI?rel=0
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