Conclusions
Conclusion
The application succeeds.
The claims in the table in paragraph 51 of the Schedule of Loss will be struck out, except for Service Charge Loss and Interest Loss.
The claim of the third claimant will be summarily dismissed.
Appendix: Paragraph 51 of the Schedule of Loss
Part 1
Loss Claimed | 339 Vega House | 354 Vega House |
Total Capital Losses | £118,000 | £199,000 |
Investment Loss | £51,400 | £87,000 |
Re-investment Loss | £29,700 | £50,300 |
Service Charge Loss | £8,989.11 | £14,032.05 |
Total | £208,089.11 | £350,062.05 |
Part 2
Rental Income Loss | To be confirmed following service of expert evidence. |
Secured Borrowing Loss | Based on raising a 50% mortgage and re-investing the capital in further property with a 50% mortgage, the Wilsons would have increased their capital gain by 100%. |
Interest Loss | Interest as referred to in paragraph 26 of the Re-Re-Re-Amended Particulars of Claim |
Indemnity | Following the decision in Coastal Housing Group Ltd v Mitchell & Anor [2024] EWHC 2831 (Ch), there is a real risk that tenants (Contract Holders) who have rented the Flats from the Wilsons will be able to reclaim rent paid at least since 1 December 2022, when the Renting Homes (Wales) Act 2016 came into force, as a result of the Flats being unfit for habitation. |
Taxation/IHT | CGT liability – TBC Cost of IHT insurance premium |
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