Sir Peter Bottomley yesterday laid down an Early Day Motion calling on the Commons to condemn the leasehold houses and ground rent rackets.
He called on Taylor Wimpey, Persimmon, Bellway and Adriatic Land companies to “restore all affected leaseholders to a position of fair, affordable enjoyment of their home by assistance to own that freehold and by cancelling unaffordable ground rent terms”.
The Early Day Motion underlines this issue and will be referenced when Parliament reassembles on June 9 after the election.
On April 19, Sir Peter told the All Party Parliamentary Group on leasehold reform that there was “no party politics in this at all”.
“I can guarantee you this: candidates who are going into the election will talk about leasehold issues and those of us who come back, together with new colleagues, will fight on this.”
Another debate in the Commons was being sought before the election was called.
“After June 8th Parliament will be giving more attention to this, and I think we can get the Select Committee [of DCLG] to pay attention as well.
“Companies did this with their eyes open and if Parliament brings a declaration that these terms are so unfair that they are on an enforceable they should get what’s coming to them.”
This issue is really coming to a head now. Well done to all involved.
One question from myself is where does this leave flat owners?.
Jefferey, Flat Leaseholders must start a campaign as did house Leaseholders. “Too busy” ” Too much hassle” “Can’t be bothered” is not good enough. I have suggested several time on this site for flat leaseholders to galvanise and take on the Freeholders and connected managing agents.. No action = No Sucess! That is how these Rachmanist spivs have got away with ripping off and intimidating Flat Leaseholders for so long. ACTION THIS DAY!!
Jeffrey, Best thing is to write and then visit your MP. Ask your MP to join APPG and if not why not.
Every leaseholder in the UK should contact their MP. Unaffordable ground rents apply to flats and houses in exactly the same way. One day many properties will be unmortgageable.
LEASETENANT, Why is that the “best thing”? Surely you are savvy enough to know that MPs only react when their is pressure put upon them- That is why the NLC are being very effective. If they can why not FLAT LEASEHOLDERS? It’s all very well you saying ” contact your MP” etc… I say to you, why not start a Facebook / twitter campaign and galvanise Flat Leaseholders? Don’t expect others to fight your battle- step up to the plate . I will support you and I sure many others will. ( note: if I owned a leasehold flat my campaign would be up and running) Come on people, fight your battle or accept your situation and stop boring people. . Otherwise it becomes terribly tiresome- bit too much whining from flat leaseholders and NOT enough positive action.
LEASEHOLD WILL FALL. BELIEFS WILL BECOME REALITY. YES, ACROSS THE UK LEASEHOLD WILL FALL. FOR IT CANNOT WITHSTAND FAITH. IT CANNOT WITHSTAND TRUTH. LEASEHOLD CANNOT WITHSTAND FREEDOM.
I SAY TO ALL POLITICIANS FROM WHATEVER PARTY:
“TEAR DOWN THAT LEASEHOLD”
Hear hear! Change is a coming! Drain that swamp.
This week if TW keep to their programmed date we may see the beginning of change for the better for the Leasehold house “owners”.
One would hope that TW are proposing to compensate in some way every purchaser of one of their leasehold houses. The Doublers, the RPIs and the Resales.
But how on earth can fair compensation be calculated with all the different situations leaseholders find themselves in. With many different Ground Rent conditions in their leases, different Ground Rent charges and different companies to whom the freeholds have been sold off to. And the different amounts these companies are quoting to purchase.
I have previously calculated that fair compensation to all the leaseholders would cost TW around £100million. This would enable leaseholders to buy back their freehold at the originally quoted TW price with the balance being paid out of the compensation.TW provide.
The simplest way I can see for TW to solve this issue is to pay £100million into a Leaseholders compensation account and appoint an acceptable fair minded accounting company to distribute it in a fair and honest way.
Anyone got a better idea?
MH. The most important thing is change is coming. TW etal are going to be dragged kicking and screaming to the altar of fair play. They will have to eventually pay up to right the wrong. Who gives a #*st if the calculation is. £100 Mill or fifty twenty trillion?? Who cares?? However, the TW brand will be forever tarnished and rightly so- nothing more than a bunch of spies in my opinion. ( They have done a ratner)
The most important thing for me is that all these leaseholders will get treated fairly and my calculation of cost for this is £100million.
Unlikely, but If TW did Make such an offer I am sure it will come as a great relief to those affected. And other developers would have to follow suit.
If the offer turns out to be a rubbish one then your comments would be justified.
MH, the party is over for TW. Yes, they will be coerced into righting the wrong that they done,however their reputation is in tatters regardless and deservedly so!
Ooh meant SPIVS!! Absolutely nothing spivvy about spies..,,
Remember what happened to Ratner Jewellers? Where are they now? TW and these other builders will suffer the same fate!
‘Ratner’ were sent on a one way ticket to Palookaville and that’s where TW et al will be sent once thay have been forced to compensate the shafted leaseholders.
If it is TW intention to throw £130million into the pot then that has exceeded my expectations. Not sure what they mean by spreading it over the next few years.
It needs distributing now and should be enough to enable all Purchasers of TW leasehold houses to buy their freeholds at the original TW quoted cost.
ie. Make up the difference in cost charged by the freeholders.
If they do this then they will be one step ahead of the other guilty developers, solicitors etc.
The big UK banks should be asked to terminate loans for ground rent freeholder companies especially those controlled by entities in the British Virgin Islands.