The tycoon who owns freeholds of 40,000 homes
James Tuttiett has built a massive property empire of controversial freeholds This allows him to charge homeowners for the land their house is built on Leaseholders must pay ground rents to his company E&J Estates Some rents double every decade and will reach thousands of pounds a year A property mogul has made millions of pounds through ‘exploitative’ ground rent fees paid by up to 40,000 households, it has been revealed.
The Daily Mail writes today, echoing Patrick Collinson’s article in the Guardian on Saturday:
Referring to James Tuttiett, the Daily Mail runs a piece today headed: “The tycoon who owns freeholds of 40,000 homes”.
Adding:
- Mogul has made millions through ‘exploitative’ ground rent fees
- James Tuttiett has built a massive property empire of controversial freeholds
- This allows him to charge homeowners for the land their house is built on
- Leaseholders must pay ground rents to his company E&J Estates
- Some rents double every decade and will reach thousands of pounds a year
- A property mogul has made millions of pounds through ‘exploitative’ ground rent fees paid by up to 40,000 households, it has been revealed.
James Tuttiett, 53, has built a massive property empire of controversial freeholds, allowing him to charge homeowners for the land their house is built on.
Companies House records show he controls 85 companies that own the lucrative freeholds of huge developments in Newcastle, Birmingham, Leeds, Coventry and London.
He is often the sole director or employee of the firms.
Leaseholders must pay ground rents to his company E&J Estates. Some rents double every ten years, meaning they will reach thousands of pounds a year in decades to come.
Related posts:
‘Cameron’s brother-in-law Will Astor and the toxic leasehold scandal’, Daily Mail
Developer recommended solicitors could face £500m bill, says Daily Mail
James Tuttiett’s tangled web of E&J freeholds scrutinised by the Guardian
Ground rent baron James Tuttiett gives £8,500 to the Tories (which is a bit stingy, considering …)
Daily Mail reports OFT inquiry into leasehold management
Spire View, in Pickering, shows a commonhold future with no leases at all, says Sunday Times
Great work by LKP. This disgusting scam in the vital area of people finding a home to live in and get some stability in their lives must be held up to be the awful abuse it is and Government and Society must act with unlimited energy to stop it and hold those responsible to account. and name and shame all those responsible and those who have turned a blind eye. in order to benefit themselves.
The problem is that so few of us can afford a freehold home these days. The only way is to buy a leasehold and home that depreciates as soon as you sing the lease making it imperative to sell before the number of years fall below 80 years .
If they do the freeholder maybe forced to sell an extension but will often make that process expensive and time consuming in their favour
The is the problem of service charges and ground rent omit to read your lease may result in “tears and frustration later on “
You will not be able to do as you like in your home as the lease may restrict what and when you can do it. It may not allow you to “sub let” either
Buying a share in a flat ? Please beware that future costs and values will have an even greater negative effect on the purchaser in the future
Leasehold ownership is a nightmare. ! But there is very little alternative
HELP !
Its up to every leaseholder to complain , complain and complain to your local MP. .
There are 4 million E & W leaseholders who are economically disadvantaged under the unfair leasehold property system.
It does not benefit any of the 4 Million leaseholders so it is up to you to tell your MP to end the leasehold system. and change to Commonhold..