Leasehold scandal

[JohnD]

"Leasehold scandal: ground rents to be banned from 30 June Long-awaited ban on ground rents set to come into force in England and Wales"


https://www.which.co.uk/news/2022/04/leasehold-scandal-ground-rents-to-be-banned-from-30-june/

"Buyers purchasing leasehold properties in England or Wales will soon no longer need to pay ground rent to the freeholder. The first of a series of long-awaited reforms to the leasehold system will come into force on 30 June."

well that's good news

"The CMA is continuing to investigate Barratt Homes and a number of investment companies that bought freeholds in bulk from developers.


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[noseall]

Hoorah! The fightback against greed scores a goal.

Greed 0 - 1 Power to the People.

 

[gas112]

next needs to be maintenance charges for grass cutting shrubs etc

 

[Keithmac]

I would never own a property where someone else owns the ground it's built on personally, sounds like a recipe for disaster!.

 

[conny]

On my first house I had a 980 year lease with a 'fixed for impertuity' ground rent of 1 peppercorn. At the time I didn't even know what a peppercorn was!

It was never collected but, once I found out what a peppercorn was, I could have paid the whole 980 years worth in one go!

I read a short while ago about builders having leases which doubled every few years, so a £1,000 a year lease for example, would be £2,000 then £4,000 then £8,000 etc. Once it came to light is when the action to stop it began gathering momentum.

 

[Trazor]

https://www.which.co.uk/news/202

Nice link, if you are after a Television.

 

[Trazor]

Hoorah! The fightback against greed scores a goal.

Greed 0 - 1 Power to the People.

Are you thanking the Tories.....

 

[festive]

next needs to be maintenance charges for grass cutting shrubs etc

Indeed utter scam and shameful these lowlifes should hang their head in shame what they charge for so little in return. Worse than some builders.

 

[motorbiking]

New leases only. I don’t think it applies to existing leases and disposals.

When you sell your lease on, it’s still an existing lease.

Landlord agents will just charge more for insurance and bulls*** admin fees and lease extensions.

 

[Nige F]

On my first house I had a 980 year lease with a 'fixed for impertuity' .

I know someone who got a fixed penalty for importuning

 

[conny]

I know someone who got a fixed penalty for importuning

My mistake, I spelt in perpetuity incorrectly.

importuning
/ˌɪmpɔːˈtjuːnɪŋ/
Learn to pronounce

See definitions in:
All
Law
Sex
noun

1. persistent harassment of someone for or to do something.
   "he had quit smoking, giving in finally to his wife's importuning"
   • the action of approaching someone and requesting or offering sexual services, especially as a prostitute.
     "the claimant then identified himself as a police officer and arrested him for importuning"

in perpetuity

phrase of perpetuity

1. forever.
   "all the Bonapartes were banished from France in perpetuity"

 

[The Samaritan]

We would never buy a leasehold property, even if it was on the so-called peppercorn agreement.
However, buying an apartment in London/England/etc vast majority of the time it is a leasehold for obvious reasons,
but you can buy house conversions and smaller blocks where the apartment owners also own the freehold.

Re leashold, it's abit like the PPI so-called scandal. Ask yourselves this, what type of clown would have bought a ppi if they bothered to read some of the small print and the smae applies to houses bought on leasehold over the previous 30 years or so. The main reason these people bought leasehold houses is that they were cheaper so it suited them until the ground rent/etc shot up.

The PPI payments, never should have happened.

A bit like the endowment mortgages - especially the ones sold over the last 25 years or so - people's greed got the better of them and you know the rest.