You don't need to be an 'investor' to invest in Singletrack: 6 days left: 95% of target - Find out more
We need to extend the lease on a flat. We own the freehold through a ltd company. Two flats in the block - the two owners are the two shareholders of the freehold company. We have a good relationship with the other person involved.
It seems a pretty basic process - need a deed of variation to extend the lease term to 999 years and reduce the ground rent to a peppercorn.
It all seems like it should be pretty straightforward but a quick google shows it might be as much as £450 per flat. The other freeholder won't want to pay as there's no benefit for him in the short term.
Is there any reason I can't DIY this? Buy a document from t'web (£25) there are a few land registry forms to fill in (plus a £40 fee). I'll need to verify my identity to the Land Registry and drop by a solicitor to do that (maybe £20). I don't *think* i need the other freeholder to verify their identity.
bump - nobody?
Can't help with this specifically but I've done my own conveyancing on the last two properties I bought and dealt directly with the land registry. That part is pretty straight forward. Fill out the right forms, pay the fee, then either get a solicitor to verify ID of go to land registry in person with the forms and your passport. For buying/selling both parties need to do this although the fees should be small enough for you cover them all.