The meeting on Wednesday 30 May was attended by a small group of people with an interest in extending their leases. Lots of valuable information was exchanged and documented. We are scheduling a meeting with the Lease Advisory organisation which will take place in the Winchester Hall. Leaflets publicising the dates and further details will be distributed in the near future. Meanwhile if you have any comments please do share them with us.
Lease Extension Meeting
Wednesday 30 May 2007 @ 19:30
Turk’s Head
Background:
A small group of neighbours in Godstone Road gathered in February to talk about the issue of extending our leases. Realising that we probably were a small representation of people affected in the area, we agreed to spread the net further. A mention on the website recently resulted in the meeting that took place on Wednesday 30 May.
Objectives: To share information and agree a way forward.
We understand that N&D rely on residents coughing up with not too much of a fight. If we dig our heels in there is definitely a more satisfactory outcome to be achieved. N&D have recently employed a new chap to deal with lease negotiations, he is inundated with paperwork. This may or may not work in our favour.
A local resident was quoted £20k in 2006 to extend his lease, after some negotiation the final sum agreed was £13,750k. This was achieved in 4 months from commencement of negotiations.
JC cited the case of a neighbour and mentioned that the surveyor involved has had experience of several cases in the area.
JC provided a brief summary of the Cadogan v Sportelli case, due for a hearing at the Court of Appeal in July 2007. Information can be found at www.lease-advice.org
MM on advice of a local legal friend suggested checking buildings / contents insurance policies to see whether legal expenses cover is included for matters such as property disputes / negotiations. This may include cover for surveyors / lawyers.
We agreed to:
- work together as a group:
- approach the Lease Advice org to arrange a seminar / meeting locally;
- distribute a leaflet publicising the action group and forthcoming meeting.
Actions:
- Contact Lease Advice org to schedule date for local seminar / meeting DG
- Draft leaflet for distribution MM
- Prepare list of questions for seminar / meeting with Lease Advice org MM Done
- (Contact Neil Sewell @ Churchills to discuss process) MM
- Find out contact details of surveyor with experiencing in the local area JC Done
Questions for future seminar / meeting
| What are the benefits of working together as a group? | Sharing the cost. |
| What possibility of purchasing the freehold? | Possible if all parties in the property are in agreement. Note that this may not necessarily cost more than the sum of both lease extensions put together. DF mentioned that a good time to obtain the freehold is when one of the properties in a joint situation is for sale / sold. |
| What are the benefits / possibilities of setting up a housing association? | |
| What are the benefits of setting up as a residents association and as a charity? | Apparently relatively easy to do and can have some advantages. |
| What are the likely costs? Per survey or on a group / area basis? | Cost of surveyor £500 - £600. |
| What possibility of capping the sum agreed? | |
| What impact delaying negotiations? | |
| Better understanding of CvS case? |