The annual conference of ARMA held yesterday in central London was the most rigorous and clear-eyed discussion of leasehold and its many defects yet held by a trade body in the sector. At one point in the proceedings, the audience of 550 managing agents, lawyers, senior civil servants and … two trustees of the Leasehold […]
Archives for November 2016
First-time buyers are contacting LKP after finding that they cannot sell leasehold houses or flats which have draconian ground rents introduced by plc housebuilders. An epidemic of leasehold houses is now being built across the country, with a heavy concentration in poorer regions, such as the North West. LKP reported earlier this week that £1.9 […]
Veteran columnist Peter Bill addresses leasehold houses in Estates Gazette today.
(Not to be reproduced without acknowledgement of the Leasehold Knowledge Partnership) Last year new build leasehold houses worth £1.9 billion were sold in England and Wales, according to data on the Land Registry. Since 2010 the number of new-build leasehold houses has doubled, while the total value of new-build leasehold houses has trebled. […]
After having lost in the lower tribunal and in the upper tribunal, been declined an appeal and a postponement pending a judicial review, and then been injuncted to comply with the property tribunal ruling, the freeholder at Canary Riverside might have been expected to give up. Instead, John Christodoulou is heading back to court seeking […]
A former property solicitor Ian Macfarlane has been jailed for five years after fraudulently taking over freeholds in London and then demanding ground rent and other revenues. Ian Charles Macfarlane, 56, of Winterborne Kingston, in Dorset, was handed the jail term at Bournemouth Crown Court on October 3 2016. He was convicted on five counts […]
Council of Mortgage Lenders, CML, lists banks lending on commonhold title. Commonhold tenure was introduced in 2002 as a welcome alternative to leasehold but there was very little take up. Given the lucrative racket involved in selling freeholds, with its ground rent and other dubious incomes, developers were never going to give up voluntarily a […]