All upto date on all your videos know. Well done, and keep going... Videos/topics to do with property that would be good to talk about in future that I’d be interested in are (Ideas for future videos); - Squatters rights and adverse possession - What’s an Angel invester and what benefit can they offer to you - Where to find the cheapest buys/ best buys - House for a £1, in my city of Liverpool I know they did this and possible still do. UK is not the only country that as done this as I seen on another RU-vid video that Italy was doing something similar to get people to live in the un populated towns/areas - My Union, Unison has a new department called something like housing association what’s all that about? - I know banks have gone crap with interest rates recently...Like, really crap! Though, they is other saving accounts out there. Could you do a comparison of what one is the best. Within the UK anyway haha 🤔 - Bitcoin, seems to be getting of a popular subject talk now a days there’s another video lol - What’s the best way to get your first, then second or third property or to you know... Build a property portfolio that can replace your income with residual/passive income. I seen a lot of gurus over the years talk of all this stuff and selling programs etc. - Guru scams and/ or scam artists... Different between them and legit ones 🤔 - Videos on index 500 and / or investments - predictions on when the market/ housing market will fall - Investments on what the super rich invest in - Hmmm 🤔 what are penny stocks and is getting into that any good - I see lots of videos or ads on e-commerce businesses and how it makes people 6-7 figures a year etc etc. Scam? Legit if legit what’s best way on going about it - What are CFO and SEC - Oh, another one I know I keep going on init haha... MLM type of sites that say they can make you residual income on this based subscription referral schemes. Which are structured in a type of pyramid scheme... legit? Scam? Do they actually work or is it a trap to make the CEOs of the company money? - One more last thing I have a friend who is on I think £100K a year last time I spoken to him... He sells merchandise of himself and gets a company to run it for him which takes like 30% to do everything and he gets the rest. If let’s say you wanted to start a brand/product who are these people/company that does all the business side of things for you. I might be talk nonsense again or maybe you might know... Hope some help for video ideas like. There personally my questions don’t no about anyone else? 🤔
Haha! Thanks for the comprehensive list of topics! There's a lot there, but I definitely see a few I could do videos on, such as talking about the housing market, investing in the S&P 500 and side hustles! Thanks for watching through all vids as well!!
Thanks for this. Great video. I am confused as my husband and I have just purchased the freehold of the property we have lived in for 24yrs. The current freeholder & landlord no longer has a vested interest in the property and after 8yrs of paying no service charges, has resulted in much needed maintenance work to be undertaken. It is 3 one bedroom purpose built flats, each with a garage. All occupiers own their own property but are tenants; one has a 156 year lease remaining and the other with 66yrs. We are the 3rd flat, having just secured the freehold. The other tenants had a right to buy, but none of them were interested in the purchase or joining forces. Now we are left 'holding the baby' and need to start again with building up the service charge and annual ground rent (one tenant only on the 66yrs). As new landlords/freeholders, do we need to set up a FMC? I have no idea where to start and am new to all this. Any help or advice is appreciated.
I want to sell my freehold flat. It seems I have to supply a notice 5a to the other flat upstairs as that is leasehold. how does that work? Who pays for paperwork ie in your scenario above the leaseholders would need to pay their solicitors to get the work done. Does the freeholder wanting to sell their property have to pay for any of the leaseholder's solicitors fees if they want to proceed?
I’ve been offered the chance to buy the freehold of the building, just two flats including mine, it has 975 years remaining. There’s no internal or external communal areas. Is it worth buying the freehold or just the leasehold.
It’s difficult to give a typical percentage. My lease extension, which costs similar to collective enfranchisement, cost around 5-6% including fees of my flat’s value, but it can vastly differ depending on length of lease, ground rent (and how it increases) and location. There are online calculators but they aren’t always accurate. The government has promised to create a more accurate calculator for leaseholders, but no one knows when that will be
Thank you, very interesting. I wonder how it works if ad example one of the owners of the flats does not join the Ltd. I understand the other ones can go ahead if they reach a certain percentage, but in this case is he obliged to pay the rent to the new company formed without him?
You’re welcome, thank you for watching. So, if a leaseholder doesn’t take part in the enfranchisement, the others will collectively need to cover the cost (premium) of that person’s share (in addition to their own). Once the newly formed company buys the freehold, that company will become the freeholder. So, any payment that were due to original freeholder, will then be payable to the new freeholder. Hope that makes sense?
@@SelfInvested Yes! Many thanks, it makes (and made) sense, but it was just for sake of safety - sometimes life is weird... Many thanks again for you fine work
At least 50% of the flats in the building, who are qualifying tenants, need to participate, and if only 50% participate, they still need to buy the freehold of the whole building, so pay the cost of 100% of the flats. Hope this makes sense
@@SelfInvested hi thanks for your reply. Its a one up one down maisonette so I should in theory comprise of the 50%. But you talk about two thirds in your video which is about 66% so that has me a little confused. Could you please kindly clarify this further if this is relevant to my scenario above? Thanks for your help!
@@DubSalvation Oh! I see what you mean. I see the confusion here. According to the Leasehold Advice Service website "at least two-thirds of the flats [in the building] must be owned by qualifying tenants. A qualifying tenant is essentially a leaseholder who has a lease that was in excess of 21 years when first granted". My understanding of this is that as long as the other flat owner is a qualifying tenant, then your building would be eligible for collective enfranchisement because 100% of the flat owners in the building would be qualifying tenants. However, I'm not a legal expert, so I'd suggest getting legal advice on this before taking any action. Hope this was helpful.
Thanks for the detailed explanation, very helpful! When a flat is owned by a married couple, do we count as 2 leaseholders do you know? And would that mean we have to pay twice for the share of the freeholder? Thanks
Hi Ana! If I understand you correctly, no. Your flat would be considered one unit with two owners. For the purposes of the premium calculation, you'll be considered joint users of one unit. Hope this helps!
Hi there, My partner and I are trying to buy our freehold for our leasehold maisonette with our downstairs neighbours, we have know been given a date for our case to be heard at the third tier tribunals. What do you advice, is this something that can be done without representation? as the cost escalates. he has not negotiated but asked for double the offer our surveyor had put forward which was worked out according to rules and reg, His surveyor has not come to the negation table. should we be worried by this? what is the worse case scenario?
Hey John! Sorry for the late response. I would get in contact with the Leasehold Knowledge Partnership for advice. Can you add me on Instagram? @SelfInvested_UK Happy to have a chat!
