Landlords are the winners once again
Is this justice?
I noted in the business pages of the Star, February 7, the report of a challenge by a freeholder at the Royal Courts of Justice in January of this year to the established formula for deciding the costs landlords/investment companies can charge property owners for extending their leases or selling the freehold titles to them which they hold.
This leaseholder of a property in London wanted to extend his lease, the freeholder wanted to charge them £420,000.
The leaseholder lost their case with the Lord Justices deciding in favour of the freeholder.
This judgement continues to keep the door open that allows the investment companies which have snapped up leasehold and freehold titles for the sole purpose of making money from the property owners if they try to purchase them in the future.
It would be interesting to know what kind of criteria the Justices used in determining their judgement.
This case gave an oppurtunity for some kind of reasonable method of calculation to be recommended to curb the excesses of investment companies.
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The judgement will have implications for any property owners in future.
They will have to pay the extortionate charges demanded by these companies or go down the costly route of an appeal.
So, if in future any property owners wishing to purchase these items wonder why they are so expensive they should blame the Lady and Lord Justices of the Royal Courts of Justice.
So much for justice, what justice?