The Universities of Bangor, Kent, and York have been commissioned by the Welsh Government to undertake research into the sale and use of residential leaseholds in Wales.
As part of this research, they have designed an online survey of leaseholders in Wales. This survey aims to find out more information about:
- The type of property, the freeholder and manager
- How much leaseholders knew about leasehold when they bought their home
- The terms of their leases
- Any legal action or disputes they have taken because of the lease
If you are a leaseholder with a home in Wales, the Welsh Government would like to hear from you.
They have commissioned a team from Kent, York and Bangor Universities to survey leaseholders on their experiences of being leaseholders. If you are able to help, follow this link.
YDYCH CHI YN BRYDLESWR YNG NGHYMRU?
Os ydych, fe hoffai Llywodraeth Cymru glywed ganddoch chi. Maent wedi comisiynu tȋm o Brifysgolion Caint, Efrog a Bangor i wneud arolwg o brydleswyr ar eu profiadau o fod yn brydleswyr. Os gallwch helpu dilynwch y cyswllyt yma.
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The Times reports that families ‘lost £3 billion’ on resale of leasehold retirement flats, while developers and freehold speculators made millions
for discussion …..
England Scotland & Wales ; 650 MPs will have to pass a Law along the lines of :
New Build Flats & Houses : in the SALES OFFICE when a Customer pays a DEPOSIT to
RESERVE ANY PROPERTY – Leasehold or Freehold : House or Flat
Each House or Flat will have FINAL COPY details of the Leasehold or Freehold Titles
for each Buyer which includes anything & everything to do with the House or Flat and
the Estate .
NOTHING IS PUT UP FOR SALE UNTIL THE DETAILS ARE PROOFED & CHECKED
BY LAWYERS OF THE DEVELOPER.
For a period of 2 years or 5 years , the Estate Costs shall be FIXED at e.g. £50 or £100
or £150 depending on the size and cost of the Flat or House.
Those COSTS SHALL BE INCLUDED IN THE SALE PRICE.
The ESTATE COSTS for Green spaces , Play areas and Access roads etc might be higher
or lower IN TOTAL for the 2 year or 5 year period for the Land Owner. Tough luck.
For the period after 2 years or 5 years.
The National Property Tribunal will allocate the costs as a % for each FLAT OR HOUSE to be
determined before anything is SOLD.
There shall be an OPTION for any Flat or House to buy AN EQUAL SHARE of the Common Land
in the Estate and to decide on Managing the Land and an OPTION to be EXCLUDED but
allways to be liable to pay a % of the Costs as defined in the Title Deeds and Schedule.
There will be NIL Service Charge Payments for any Leasehold property for 5 years with
the Costs paid by The Freeholder and included in the Sales Price..
All Leaseholders will have an OPTION at the point of Deposit to BUY A SHARE OF THE
FREEHOLD TITLE at a COST TO BE ALREADY DECIDED by the PROPERTY TRIBUNAL. and
the Details shall be finalised and clear for all to see.
IF FOR ANY REASON within 5 years there is any Buyer unhappy with Workmanship
or Quality Standard of any House or Flat THE TRANSACTION WILL BE CANCELLED.
No refund of Legal or Occupancy or Maintenance Costs will be made to anyone.
If the Property Market has Gone UP or Gone DOWN during those 5 years : TOUGH LUCK.
The BUYER WILL BE REFUNDED THE SALE or PURCHASE PRICE and nothing else.
This means the House or Flat will have to be of THE VERY HIGHEST QUALITY.
This also means The Builder might have to arrange Indemnity Insurance and-or
retain PROFITS as CASH instead of being distributed as DIVIDENDS or
STAFF BONUS for those 5 years.
The NEW LAW will allow for an Ombudsman Service to deal with property Disputes
who will also have discretion to allow further Case Study and Judgement at the Tribunal..
IF FOR ANY REASON the Leasehold & Freehold documents and other Costs &
Schedules are not available at the Show Room : the FCA or Land Registry or Property
Tribunal can impose a Heavy Fine on both the Developer and Sales Official.
If the Documents are NOT AVAILABLE there will be NO WEB-SITE in OPERATION
and the SALES OFFICE WILL BE CLOSED.
All of you CLEVER LAWYERS & Property People can Argue and Argue until
the Cows Come Home and you are Blue in the Face : it is better to
sort out Title and Costs before something goes on Sale.