The Court of Appeal has ruled against the Mundy case this morning. In a unanimous ruling, the judges have also refused leave to appeal and awarded costs against Mundy, who was challenging the vested interests in leasehold with a statistically robust analysis of the untainted market evidence to value lease extensions and enfranchisement. For leaseholders […]
Search Results for: Mundy
Court of Appeal ruling on Mundy case’s ‘inconvenient truth’ expected on Wednesday
James Wyatt, the chartered surveyor mounting the Mundy case, anticipates a ruling from the Court of Appeal on Wednesday. The case was described as an “inconvenient truth” about leasehold by Edwin Johnson QC at the Court of Appeal last week. James Wyatt says: “The Parthenia model has been extensively peer reviewed by the top […]
Mundy case in Court of Appeal showdown over valuation racket
The Mundy case challenging freeholders’ carve-up of the lease valuations goes before the Court of Appeal tomorrow. It is being moved by chartered Surveyor James Wyatt, of Parthenia Valuations, who believes existing valuation models, commissioned by the country’s richest freeholders, are weighted in their favour. It has been a five-year struggle for Mr Wyatt, a […]
DCLG shakes up leasehold team … but what about Southam, LEASE and the Mundy case, asks Bottomley
Oh … and there is YET ANOTHER review, this time on ombudsmen services The DCLG has shuffled the civil service leasehold team: perhaps ahead of making some important changes to the sector. Perhaps to steel themselves for the fallout if little or nothing is done. In any case, the current incumbent ¬– who demonstrated very […]
Court of Appeal to hear Mundy case which will save millions on lease extensions
The Court of Appeal has granted permission for an appeal to be heard in the case of Mundy v The Trustees of the Sloane Stanley Estate. The Mundy case should interest every leaseholder and especially those with leases under 80 years, as if the Mundy decision is not overturned millions of people will have thousands […]
‘Reverse the Mundy case on lease valuations by statute if necessary’
Sir Peter Bottomley said: I interrupt myself now to say that I was going speak for a long section on hedonic regression and Sloane Stanley Estate v. Mundy. As part of that case, Wellcome Trust interests managed to persuade an upper property tribunal of two people to make a change in the valuation of short […]
How scam values on equity release loans affect leaseholders. And YOU need to stop it …
With their legally enforceable income streams – and extreme vulnerability in legal disputes – leasehold properties are the basis of a multi-billion pound speculative business. Now the flawed, freeholder-friendly model of valuing leasehold deferment rates are sneaking into the dubious equity release loan market. Here an ex-Bank of England economist explains to LKP readers his […]
Law Commission sets out how it hopes to create a better deal for leaseholders – and look at alternatives
Law Commission sets out today how it proposes to come up with a better deal for leaseholders and will look at alternatives to this system of residential tenure, that is unique to England and Wales. Today it set out the terms of reference for its work on enfranchisement and commonhold reform, agreed with government. The […]
Wellcome Trust spends £114,000 on lawyers to defeat Onslow Square leaseholder in £6,000 dispute
The Wellcome Trust spent £114,000 to defeat a leaseholder in Onslow Square in Kensington over a £6,000 dispute – which came down from £8,247 originally demanded. The gargantuan bill includes VAT. The case means that the woman leaseholder will have to sell her home, it is claimed, but the Wellcome Trust has not to date […]
Justin Madders delays Leasehold Reform Bill and calls on the Government to provide justice for leaseholders
Labour MP for Ellesmere Port & Neston, Justin Madders has delayed the second reading of the Leasehold Reform Bill until October 26 2018. The Bill seeks to introduce a statutory formula for enfranchisement and lease extension similar to schemes in Northern Ireland and Scotland. It will end the incessant game-playing and revenues from the lease […]
Bottomley attacks ‘uncivilised extortion’ of lease extension racket in Mortgage Solutions
The defeat of the Mundy case is a cue for Parliament to right the injustice of “uncivilised extortion” in the lease extension racket. “It will cost every leaseholder in the country,” Sir Peter told the Mortgage Solutions website. “Whenever a lease needs extending, there’s a potential impact of this judgment in a way which parliament […]
ConservativeHome website calls for radical reform of leasehold
Christopher Howarth: It’s time to end the great leasehold service charge rip-off Christopher Howarth is a senior researcher working in the House of Commons. Prior to this he worked for Open Europe, as a Conservative Foreign Affairs Adviser and senior researcher to a Shadow Europe Minister. Prior to 1993, the owners of flats had virtually […]
Guardian says: It’s time to send the feudal leasehold system crashing. Amen, to that
We have to end the horror of this feudal leasehold system The entire parasitic structure of leasehold in England and Wales is, finally, beginning to wobble – and with a bit more prodding we could see it crash. The long campaign led by Sebastian O’Kelly at the Leasehold Knowledge Partnership has had its first success, […]
Peter Bottomley MP calls for a debate on leasehold reform
Today in the House of Commons Sir Peter Bottomley MP called for a debate on leasehold issues. He mentions the need to reform the leasehold advisory service and the need examine the cost of lease extensions. Sr Peter Bottomley (Worthing West) (Con) I am intervening, at the suggestion earlier of the Leader of the House, […]
‘No other law so blatantly allows the wealthiest to rip off those less so,’ says the Sunday Times of leasehold
The Sunday Times returned to considering leasehold yesterday and made its most damning assessment yet. The a powerful article by columnist Martina Lees considered the case of Lisa and Ray Chapple, aged 34 and 35, living in a terraced house bought off-plan seven years agon. With £250pa ground rents courtesy of Taylor Wimpey they will […]
Parthenia Valuations
James Wyatt FRICS Parthenia 45 Pont Street London SW1X 0BD DDI: 0203 397 5500 Email: jwyatt@parthenia.co.uk Website: www.parthenia.co.uk James Wyatt, of Parthenia, is mounting a legal challenge to the valuation methodology of lease extensions, which he asserts is unfair to leaseholders. The issue, which has considerable cost implications for perhaps 2 million leaseholders with short leases, […]
