four-wheel-drive Posted May 12, 2017 Report Share Posted May 12, 2017 On the news they have been saying about this people buying new houses today and some of the big builders instead of of just selling the land with they house as it should be it you are paying £200.000 for a house they then want to charge you £200 a year for the first ten years then double it every ten years this has to be wrong in every way. Quote Link to comment Share on other sites More sharing options...
andypaint Posted May 12, 2017 Report Share Posted May 12, 2017 Lease hold, been around for years. it can last for upto 999 years. Also known as a pension income for the builder!!!!!. It's supposed to be used for the maintenance of the local amenities ie, play ground, tree and grass cutting. Quote Link to comment Share on other sites More sharing options...
chady Posted May 12, 2017 Report Share Posted May 12, 2017 Some builders sell you freehold But charge an *** management charge public open space As the councils are not adopting them any more! Quote Link to comment Share on other sites More sharing options...
CharlieT Posted May 12, 2017 Report Share Posted May 12, 2017 Lease hold, been around for years. it can last for upto 999 years. Also known as a pension income for the builder!!!!!. It's supposed to be used for the maintenance of the local amenities ie, play ground, tree and grass cutting. Lease hold, been around for years. it can last for upto 999 years. Also known as a pension income for the builder!!!!!. It's supposed to be used for the maintenance of the local amenities ie, play ground, tree and grass cutting. It is not supposed to be used for maintenance or repairs. Those are recoverable by way of a separate service charge. Ground rent is just that, a rent paid to the freehold owner for the right of occupying his ground/building during the time you have the lease. At the end of the lease, the lease ceases to exist and the right to occupy the property reverts to the freeholder. Quote Link to comment Share on other sites More sharing options...
Blackpowder Posted May 12, 2017 Report Share Posted May 12, 2017 Does this apply in Scotland? Blackpowder Quote Link to comment Share on other sites More sharing options...
Vince Green Posted May 12, 2017 Report Share Posted May 12, 2017 The leasehold thing has been a ticking time bomb for a while Quote Link to comment Share on other sites More sharing options...
BrowningB525 Posted May 12, 2017 Report Share Posted May 12, 2017 On the news they have been saying about this people buying new houses today and some of the big builders instead of of just selling the land with they house as it should be it you are paying £200.000 for a house they then want to charge you £200 a year for the first ten years then double it every ten years this has to be wrong in every way. Selling leasehold houses isn't new. Although there is no valid reason for new developers to do it apart from greed. I certainly wouldn't buy a new housrvthat wasn't freehold. Some builders sell you freehold But charge an *** management charge public open space As the councils are not adopting them any more! On my estate, the charge goes to the council. Quote Link to comment Share on other sites More sharing options...
Vince Green Posted May 12, 2017 Report Share Posted May 12, 2017 A lot of the new build apartments in London have eye watering leases and service charges. It is the new way to rip people off Quote Link to comment Share on other sites More sharing options...
Granett Posted May 12, 2017 Report Share Posted May 12, 2017 It's just another case of shirking personal responsibility. The only time these situations come as a surprise is when you've not read what you're signing. Quote Link to comment Share on other sites More sharing options...
lxtav Posted May 12, 2017 Report Share Posted May 12, 2017 Does this apply in Scotland? Blackpowder No it was abolished in 2004. When buying a property in Scotland, there is no freehold and leasehold distinction. What you buy is 100% yours and you can say everything is freehold in Scotland. Once you buy the property, you can give a tenancy to someone else so they can occupy it for a rent. The desirability of having 100% ownership is that there is no other landlord controlling how the property is managed with extra service charges payable and the buyer does not need to worry about having to pay a premium to extend their lease before it expires. This would then make it easier to sell a property as in England, leases with less than 70 years remaining would find it difficult for buyers to obtain a mortgage. Quote Link to comment Share on other sites More sharing options...
Mice! Posted May 12, 2017 Report Share Posted May 12, 2017 Someone mentioned on another thread about people having the option to buy the lease when purchasing the house but if they don't finding out later that its been sold onto another company!! Quote Link to comment Share on other sites More sharing options...
mossy835 Posted May 13, 2017 Report Share Posted May 13, 2017 so its another GB rip off.this country is full of them. Quote Link to comment Share on other sites More sharing options...
WGD Posted May 13, 2017 Report Share Posted May 13, 2017 so its another GB rip off.this country is full of them. No it's business. Quote Link to comment Share on other sites More sharing options...
oldypigeonpopper Posted May 13, 2017 Report Share Posted May 13, 2017 No it's business. OH SO THAT MAKES IT RIGHT !!!!!!!! Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted May 13, 2017 Report Share Posted May 13, 2017 OH SO THAT MAKES IT RIGHT !!!!!!!! If you don't like it then don't buy a leasehold propert without reading the paperwork. Simple. Quote Link to comment Share on other sites More sharing options...
oldypigeonpopper Posted May 13, 2017 Report Share Posted May 13, 2017 (edited) If you don't like it then don't buy a leasehold propert without reading the paperwork. Simple. hello, it is not a leasehold property as 4 wheel drive mentioned in his post, it is a bricks and mortor house build that can be purchased freehold but with the land beneath on a peppercorn lease, and if you look back at a BBC victoria derbyshire programme on the 2nd feb 2017 a Kate Kendrick was told in the process of purchase this ground lease can be purchased in future at a nominal cost of less than £5,000, so this hard working young lady and her family wanted what they hope many like her and 1000s of others across the united kingdom to have a dream home only to be shattered by the GREED of many now multi million pound house builders selling on the lease contract to another multi million pound GREEDY finance company now wanting up to £20,000 plus. if anyone thinks that this is ok and just how business works i do hope those with children or grandchildren or a family relative do not get caught up in this total and obscene rip off. Edited May 13, 2017 by oldypigeonpopper Quote Link to comment Share on other sites More sharing options...
four-wheel-drive Posted May 13, 2017 Author Report Share Posted May 13, 2017 If you don't like it then don't buy a leasehold propert without reading the paperwork. Simple. That is simple to say but at a time when there is a great shortage of homes for people to buy and live it for lots of people they do not have a choice if our governments of all shades had been doing what they should have been doing and building lots of new homes for people to buy and rent. Then perhaps people could choose to my way of thinking if you buy a house then the land that it is on should go with it if they do not want to sell the land then do not sell the house rent it out they want the best of both worlds money for nothing as the some goes. Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted May 13, 2017 Report Share Posted May 13, 2017 That is simple to say but at a time when there is a great shortage of homes for people to buy and live it for lots of people they do not have a choice if our governments of all shades had been doing what they should have been doing and building lots of new homes for people to buy and rent. Then perhaps people could choose to my way of thinking if you buy a house then the land that it is on should go with it if they do not want to sell the land then do not sell the house rent it out they want the best of both worlds money for nothing as the some goes. Alright fair points lads. What I find annoying is new home builders jacking the price of new builds right up just because they know lots of people can only get a 5% deposit and don't have the option to go elsewhere. Very often the houses are tiny as well! Now that's a rip off! Quote Link to comment Share on other sites More sharing options...
oldypigeonpopper Posted May 13, 2017 Report Share Posted May 13, 2017 Alright fair points lads. What I find annoying is new home builders jacking the price of new builds right up just because they know lots of people can only get a 5% deposit and don't have the option to go elsewhere. Very often the houses are tiny as well! Now that's a rip off! hello Lloyd, your right there seems no justice for many, oh looking on your recent post to think of buying a property, maybe worth more but if i had spare cash i would not put into property to rent out as its so fraught with problems, it would be in a bonds related pension scheme, Quote Link to comment Share on other sites More sharing options...
station Posted May 13, 2017 Report Share Posted May 13, 2017 hello, it is not a leasehold property as 4 wheel drive mentioned in his post, it is a bricks and mortor house build that can be purchased freehold but with the land beneath on a peppercorn lease, and if you look back at a BBC victoria derbyshire programme on the 2nd feb 2017 a Kate Kendrick was told in the process of purchase this ground lease can be purchased in future at a nominal cost of less than £5,000, so this hard working young lady and her family wanted what they hope many like her and 1000s of others across the united kingdom to have a dream home only to be shattered by the GREED of many now multi million pound house builders selling on the lease contract to another multi million pound GREEDY finance company now wanting up to £20,000 plus. if anyone thinks that this is ok and just how business works i do hope those with children or grandchildren or a family relative do not get caught up in this total and obscene rip off. Worse case reported so far has been £7,000 cost with the house when new and 3 years later it is now £35,000 All down to builder selling their properties leases on to a third party ! In some cases owners were assured that increases would not be greater than Inflation - now that's some Inflation. ATB. Quote Link to comment Share on other sites More sharing options...
oldypigeonpopper Posted May 13, 2017 Report Share Posted May 13, 2017 hello, Febuary 2nd 2017, BBC victoria derbyshire, the story of Kate Kendric and family purchasing a house in Ellesmere Port, many will say should have read the small print, some would argue that to be told by the agent the leasehold land can be purchased for less than £5,000,, to have no knowledge of this legal scam and that these hard working people of the UK saving many years for their own home and future of their children,to now find that this has gone up to now £10,000/£15,000/£20,000 plus plus with little chance of ever being able to sell i would consider a obscene injustice. Quote Link to comment Share on other sites More sharing options...
Vince Green Posted May 13, 2017 Report Share Posted May 13, 2017 I thought the law says that the homeowner has the right to buy the freehold Quote Link to comment Share on other sites More sharing options...
station Posted May 14, 2017 Report Share Posted May 14, 2017 I thought the law says that the homeowner has the right to buy the freehold You are correct - but it's the hike in cost that's so unfair. I have knowledge of a group of people in this process collectively. Probably going to take 12 months plus, but negotiated price should be approx 2/3 of initial quote - or so I am told. ATB. Quote Link to comment Share on other sites More sharing options...
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