Changes to Leasehold Law - BBC News
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- Опубликовано: 5 мар 2023
- Alex Forsyth, political correspondent for the BBC, examines the need for radical changes to the leasehold system. Michael Gove has stated that leasehold is an unfair system and wants to replace it with a Commonhold system instead.
According to 2020-21 statistics there are 4.86m leasehold dwellings in England. 71% of these are flats and 29% are houses.
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The annual yield in leasehold and ground rent revenue that the government recieve is far too high for them to 'actually' outlaw and abolish it. Too higher loss. So do not hold your breath.
lol. sucker.
This guy turned out to be right
No-one is talking about the lack of advice that the solicitors have given!
I've attended meetings with the Law Commission and have clients who have written to their MP. I would recommend if you own a leasehold flat or house that you write to your own local MP and ask them to approach the Minister in charge to confirm that marriage value will be abolished before the general election. This is really important.
Leasehold is just outrageous
I lived in Spain and when you buy a flat it is yours forever but you pay community fees roughly a 1000€ a year each apartment and that covers a cleaner weekly and the rest off the money builds up for when some thing major comes up, you also have a person who is the president off the community and they take care off every thing.
I agree, it’s a much better system. All flats are freehold and any expense over a set amount which can be as little as 5000 euros (the amount is set in the statutes of the community) has to be approved by the owners of the flats in a meeting of owners which take place every year. Why they can’t adopt a similar system in the UK is beyond me.
Pity you need to know Spanish languages is my disbaility due to cptsd
@joebloggs4191 there is, it's called Commonhold. 30+ years ago (long before Commonhold was introduced in 2002) I worked in a regional legal department of Wimpey Homes and they had an even simpler and fairer system where the buyer of a new flat became a member of the management company which held the freehold and was handed over to them when the last plot was sold. I was always shocked at these handovers at the reaction of the homeowners who thought they were being conned. It was the complete opposite, Wimpey were giving away an asset. Perhaps partly because of this reaction Wimpey changed to the opposite tack and started extracting every last penny and also selling houses as leasehold. People can be their own worst enemies.
@@healingandgrowth-infp4677 You would expect to have to speak Spanish in Spain though, the same as people are expected to speak English when living in England.
These new rules were coming in 5 years ago. I waited 5 years and in that time a pepper corn rent doubled in price. Might as well go full term and be turfed out and skint.
A pepper corn rent is zero
I had to buy the freehold of an apartment block tp protect my Daughters' flat, as there was no management and the other flat lease holders could not care less. I set up a maintenance fund and looked after the building for over 30 years in the end although my daughters had long gone. I was never paid a penny for my efforts. I still own the freehold , it is of no use to me , and I will chuck the maintenance back on to the lease holders do do their own management some hopes!!
I am looking forward to see the change in the system.
Leasehold probably makes it cheaper to buy a house, but obviously if you have the money you should always buy freehold.
So if you make everyone in a block of flats a freeholder, does that mean the re-cladding bills will magically disappear??
This is a curse ,whoever buys a leasehold property seemed to be cursed by the man who created the lease scam.
I tried last year. A leasehold is a long-term prepared rental. It isn't yours no matter how much they say it is. There are Draconian codicil over what you are responsible for, and you can't even secure your property against the owners.
The property I looked into they even had codicils about what type of paint you used to paint the property. Every responsibility was yours, with none of the authority or choice.
Ask anything they don't answer. The solicitors that drafted the document refused to explain it qualify anything. I put pages of written questions in for clarification, they simply refused to answer, in fact they dropped the whole thing and refused to communicate after that.
You have much greater freedom and rights as a renter than a leaseholder enforcible under the law. Luckily I am freehold and it seem staying that way.
As a leaseholder you're just a source of income for the owner.
All to do with greed, a sensible management company for a block of flats should be owned by the leaseholders and run sensibly without the aim of exploitation
Wait till people find out they don't own their freehold house, their car, their children and even their bodies...
it could be complicated in that you could not get a mortgage without a leasehold in place and the freeholder being responsible for insurance of the building along with maintenance of common ways the roof, gutters, lighting of communal ways, parking spaces owned by the Freeholder. If regulations were to be brought in they should be looking at the high cost of renewing a lease or making them all 999 years with peppercorn ground rent but maintenance of the building would still need to be dealt with by the Freeholder and insurance
In Scotland all flats are freehold. There is no ground rent to pay or monthly service charge. All owners take a turn at cleaning their part of the stairwell, or hire a cleaner to do their landing and stairs. For repairs, roof and gutters are annually inspected and repaired, and if anyone notices a problem with a common part of the building they organise a tradesperson to come and look and inform the other flats. The cost is split between the flats, and tenants pass the cost on to their landlord. It's quite straightforward, and everyone expects it so there are rarely any disagreements.
@@amandahunter4034 i think that its still better to have the Freeholder to arrange insurance and maintenance
You dont need a third party freeholder to do anything. Just have someone in charge of it eg residents or a management company paid for by residents. Wanting to keep a third party freeholder that you pay ground rent to, Stockholm syndrome?
@@Moonastronaut you need a stand alone Freehold ie the persons that own the land, you can set up a company that own the land and each of the leaseholders can have a share in this company so they would not have to pay ground rent. This enables the buyer to get a mortgage as they are not available on a Freehold flat
I'm not sure how leasehold will be improved by common-hold? Ground rents cover maintenance of roof, gutters, car parking, gardens etc. By the time the new law comes in it may well involve as much cost through a committee of owners. Seems to be a political solution where votes are gained for least cost.
No that’s what service charge is for
Would be great to get rid of the whole leasehold thing across the UK, rather than someone, investment company or other type of company (including individuals) buying up empty plots of land and then leaving it empty for years on end with nothing but a to let &or for lease sign on it. Only for the person or company involved to get a constant income stream from it on a monthly basis or once every century if housing were to be built on the land.
not sure how all these massive flat schemes will manage upkeep of communal areas unless management companies remain but own freehold
Maintenance is nothing to do with the ground rent on a leasehold
It's done in Scotland. All flats are freehold. All the flats get together to pay for an annual roof and gutter inspection, and if anyone living in the flats spots a problem to the common areas they organise a tradesperson to come and look at it and inform everyone in the flats. The cost is shared between the flats with tenants passing it on to their landlord.
Does the bbc have a legal department.
That was the worst definition of a leasehold land/ownership vs freehold land/ownership I have ever heard.
The freeholder owns the land. Land includes anything attached to the land by its own weight ( with some exceptions) and this extends down to the bottom of the Earth ( with some exception in statute and common law) and up to the heavens ( with some obvious exceptions such as allowing for airspace).
So the house or flat etc is owned by the freeholder not just the land the house or flat is built on. 😕
Bring on the crash 😂😂😂
Make all new leases 999 years and renewed leases 999 years,abolish the marriage clause and make all leaseholders shareholders of the freehold with the ability to form their own management company if they so wish.
Right now for residents it's a minimum of 25% to buy the freehold as a collective. This should really go down to 5%. In fact, a minimum of one resident. After section 5s are served up with 2 months of course as usual.
Some folks (like me) can't afford a house. With my small share of inheritance after looking after Mum for 8 years + my modest life savings I had to move out of the Bristol area where property prices are bonkers. Alas flats are a necessary evil and governments will be encouraging more flat developments under the SMART CITIES program. Also I don't see the UK authorities doing anything else other than building flat-ghettos for the biblical number of economic migrants + the few asylum seekers coming in. Hotels need to keep turning this unending tidal wave over.
England ❤
Breaking promises
This will not be passed in parliament lol
Speaks someone who hasn't got a clue!
@@shebillings8942 "Speaks someone who hasn't got a clue"... You seem very fluent in gibberish
Will never happen take a block of 20 flats how is going to fix the roof 🤔
common hold. all pay into a pot
You think you own your home sadly you will only own bricks windows doors ,you need to ask for a ALLODIAL TITLE that Title is for the land the house stands on Not even God can take it ask the Royals …
I am a leaseholder of a maisonette flat in westlondon