Jennifer Thompson
An Englishman’s home is his castle, but it may also be someone else’s pension if it’s a leasehold property.
Leasehold is the arrangement by which a homeowner only owns their property for a fixed amount of time with a separate landlord, known as the freeholder, owning it and the land it is built on in perpetuity.
There were 4.2m private residential leasehold dwellings in England in 2016 of which 1.4m were houses, according to the Department for Communities and Local Government.
In practice leases often have at least 100 years left to run before they revert to the freeholder, and in the meantime the leaseholder is bound by certain conditions, which may include requesting permission before they make external alterations and, most often, the obligation to pay an annual charge known as ground rent.
Traditionally apartments, in which the financial responsibility for the upkeep of a building is shared between numerous households, have been sold on a leasehold basis.
But in recent years there has been a growing trend for housebuilders, including Taylor Wimpey and Persimmon, to sell new-build houses using a leasehold model so they can sell the freehold as a separate asset.
Related posts:
Adriatic Land now wants £54,000 for my freehold that Taylor Wimpey said would cost £6,000
E&J Capital Partners ‘compelled’ to sell freehold to Taylor Wimpey house to pensioner for £38,000 (plus £4,000 costs)
The Times reports that families ‘lost £3 billion’ on resale of leasehold retirement flats, while developers and freehold speculators made millions
Pensioner paid £38,000 for Taylor Wimpey freehold to ground rent speculators E&J Capital Partners
The Times reports that families ‘lost £3 billion’ on resale of leasehold retirement flats, while developers and freehold speculators made millions
Grenfell cladding crisis prompts the question: what are freeholders actually for?
Dear Stephen.
I am speechless that reference to the 1890s is seen as a defence to keep GR.
Women didn’t have the vote , gay people went to prison and an important part of Irish independence was the fight to end oppression of tenants by Anglo Irish aristocrats. England is unique in keeping this feudal oppression of tenants.
Only you Stephen and a few elites- likes of Will Astor, Tchenguiz Dukes of Westminster want to keep feudal oppression.
Oh Blimey Joe,
Please don’t give our Stephen delusions of grandeur…..I somehow do not believe that our Steve is living the “ high life”. I have no evidence to support my belief- call it a hunch!
Read all about it folks!!!!
Quote “Parliament and government have to act.
Every change in leasehold law has been forced by unfair judgements. When justice and the law diverge, parliament has to choose justice”. End quote
Thus spoke that champion of shafted leaseholders. Sir Peter Bottomley.
I believe it was in response to the Mundy V Sloane stanley estates ruling.
Start polishing those pitchforks people because if parliament choose not to act we the people must force them into action.
No room for complacency.