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I have just bought a 2 bed flat, and wish to take a lodger. The flat is part of a block of 12, and each owner has a Share Of Freehold. However am I in breach of the lease if I take a lodger, if lease says I can't 'sublet'..or whatever the term is? If so what are the consequences? - i.e. could i be thrown out, and lose my flat altogether? Could I avoid any problems, by taking out a Deed of Variation?..(or something similar) Also is the buildings insurance rendered invalid if I have a lodger without leasehold permission? I have my own contents insurance, is this rendered void with a lodger..- obviously i will declare the lodger. (BTW..some of the flats are tenanted). Any help would be appreciated... many thanks

hi, i am thinking of surrendering my under-performing endowment to use as part deposit on my new flat. However the info pack i have just received has advised me that i may be liable to pay tax on the surrender value. I have calculated that i have made approx ?1200 profit, compared to premiums paid in over 13 yrs. Do i need to pay tax...and how would i declare it? I earn ?37500 pa. Alternatively, the info pack has advised i could sell the endowment to a 3rd party, as i may get more than the surrender value. Is this a good idea? Is it easy? would i need to pay tax? Many thanks for any advice please...

just seen Phil Greening in Sainsbury's....ex England Rugby player...

Hello womanofdulwich...please explain why you think I will be charged such a sum? No-one else is inferring i will have to pay such a fee to the other freeholders. (I do expect to be a shareholder in the freehold company...probably 1/12th if unit is 12 flats.) thanks

Another thought...could the estate agents find this out trouble free for me..iro...previous extensions being simple / fee free from other freeholders?

Hi,the flat is in a block of 12 or 24 or 36 depending how they are divided up. The owner has owned it for about 10 years, and was a buy to let...which prob explains why it was never previously extended. The lease has 66 yrs remaining...and i'm fairly sure (cos i looked at a flat in same block before) that the other flat's lease was over 90 yrs...that extending the lease would be trouble free but that's a guess. Are the other freeholders really likely to ask for payment? There is a management company that is run on their behalf. Would it be wise to simply contact the management company in advance? (before the solicitor takes over) Assuming the other freeholders don't want a payment from me...what is the solicitor likely to charge? and...if the lease is extended at time of purchase...is it likely to drag out the turnaround time? thanks in advance.

Good evening forum people..I am new to this site... Some advice please... I'm interested in buying a flat but will need to extend the lease during purchase or immed afterwards. If I extend afterwards how much will the solicitors roughly charge me? Circumstances:..lender is happy to lend on current lease. All of the flats have an equal share of the freehold. Will the solicitors just charge me for a couple hours of work? (if i extend after purchase) Is it wiser to extend the lease during purchase? (to keep costs down) Are any of the other freeholders likely to kick up a fuss, and demand a small fee also? Any general advice would be greatly appreciated.. many thanks