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Leasehold Houses
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bubble wrap  Carparks in South East London 26 Jul 17 4.16pm |
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They cannot ramp up the lease cost or the amount you have to pay to extend the lease but they can of course ramp up the ground rent linked to maintenance. In effect getting the tenants to pay for every repair. With new build houses its out of order to sell them leasehold as nothing is shared and its just another way of making money.
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 Part Time James 26 Jul 17 4.21pm |
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Originally posted by bubble wrap
They cannot ramp up the lease cost or the amount you have to pay to extend the lease but they can of course ramp up the ground rent linked to maintenance. In effect getting the tenants to pay for every repair. With new build houses its out of order to sell them leasehold as nothing is shared and its just another way of making money. Yeah, gotcha, makes sense. Slightly different to what I was saying the article was about but on closer reading of the article I agree with your analysis.
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| Mr. Talons Southampton 26 Jul 17 4.21pm |
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A couple of months ago on a 5Live phone-in was a solicitor who specialised in property law. One of the things he said was that 'freehold' was a misleading term, because The Crown held a priori rights to all UK land, which he said was backed by legislation. He also said that it was rare but not unprecedented for The Crown to exercise this right. If correct, what this means is that, when push comes to shove, a freehold isn't worth the paper it's written on.
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| PaddyMcPaddy 26 Jul 17 4.23pm |
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Originally posted by Mr. Talons
A couple of months ago on a 5Live phone-in was a solicitor who specialised in property law. One of the things he said was that 'freehold' was a misleading term, because The Crown held a priori rights to all UK land, which he said was backed by legislation. He also said that it was rare but not unprecedented for The Crown to exercise this right. If correct, what this means is that, when push comes to shove, a freehold isn't worth the paper it's written on. Only if we still lived in the 16th century. Realistically the Crown don't have that power.
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| Part Time James 26 Jul 17 4.25pm |
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Originally posted by PaddyMcPaddy
Only if we still lived in the 16th century. Realistically the Crown don't have that power. Just reading about this made me start crowning.
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beak  croydon 26 Jul 17 4.25pm |
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Renting is money down the drain nowt to show for it at the end of the day. Leasehold leaves you open to all sorts of shenanigans (abuse). The only correct answer is freehold,you pay the mortgage and enjoy the house price increases that comes to you over time, only two long term investments are beneficial,well selected shares in blue chip companies and property, anything else like stamps, wine and commodities are open to wild market fluctuations and require specialist knowledge.
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| nickgusset Shizzlehurst 26 Jul 17 4.27pm |
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Do you mind iF I DOn't go for it.
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| YT Oxford 26 Jul 17 4.34pm |
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Originally posted by nickgusset
Do you mind iF I DOn't go for it. Be clear - I agree with banning leasehold on individual properties on their own plot of land. But the debate is quickly descending into 'anti-leasehold' with Labour somehow using it to make a political point. Leasehold has been a useful solution to property ownership for centuries.
Palace since 19 August 1972. Palace 1 (Tony Taylor) Liverpool 1 (Emlyn Hughes) |
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| Mr. Talons Southampton 26 Jul 17 4.36pm |
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Originally posted by PaddyMcPaddy Only if we still lived in the 16th century. Realistically the Crown don't have that power.
According to the solicitor, they do. He also said that the most recent pertinent legislation was in the 1980s, I think, but I've not yet looked online to find any more info. EDIT: I googled 'crown rights to freehold'. Lots of hits supporting the 5Live solicitor's info. Here are two: Edited by Mr. Talons (26 Jul 2017 4.46pm)
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| nickgusset Shizzlehurst 26 Jul 17 4.38pm |
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Originally posted by YT
Be clear - I agree with banning leasehold on individual properties on their own plot of land. But the debate is quickly descending into 'anti-leasehold' with Labour somehow using it to make a political point. Leasehold has been a useful solution to property ownership for centuries. It is political though if it affects a lot of people. All they've said is they'd look into it. Won't be long before Corbyn is accused, by the usual suspects,of breaking a promise he didn't make to leaseholders
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 becky over the moon 26 Jul 17 4.49pm |
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It's quite perverse really.... rich people buying properties in central London (Mayfair, Chelsea, Belgravia etc) have been buying them on a leasehold basis since they were built - Grosvenor Estates (Duke of Westminster's company) being one of the main owners.
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| beak croydon 26 Jul 17 4.50pm |
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Originally posted by becky
It's quite perverse really.... rich people buying properties in central London (Mayfair, Chelsea, Belgravia etc) have been buying them on a leasehold basis since they were built - Grosvenor Estates (Duke of Westminster's company) being one of the main owners. The victor rights the rules every time.
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