Leasehold

37
Posted 15th Jan
Is anyone on here a owner of a flat or house that's leasehold? if so have you had issues with rising costs, unregulated spending by your management agent, or insane charges for being late on payments etc?

I'm one - mis-sold a flat 10 years ago, not told anything about the ground rent or the management charges, and hardly provided an explanation of what I was getting myself into with purchasing a leasehold property.

It worries me how little people still know about buying a leasehold property.
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Leaseholds are generally the only way of buying flats as there is nothing wrong with them or the way the leaseholds are issued. Normally you get to live in the property free of any worry about its structure, roof, the grounds its in etc and only have to pay a small ground rent or monthly maintenance charges.

Leasehold houses are much the same although the moral issues around them are what is dubious at the moment in the news etc.

And remember NO ONE has been miss-sold a leasehold. Buyers either didn’t read all the info in the buyers pack, didn’t understand all the info in the buyers pack and couldn’t be bothered to get the answers themselves, had a terrible solicitor doing the conveyancing that lied (in which case the redress is with the solicitors and not the sellers), or thought it was cheap enough at the time and didn’t plan/save for the increase in charges later in the agreement.

Wish people would stop blaming others and start taking responsibility for their actions!

I say this as someone who has owned multiple leases over the years and have been fully aware of all the implications when i put pen to paper and sign up!
Edited by: "ArcadeAssassin" 15th Jan
37 Comments
I wouldn't buy one unless the lease is shared amongst the flat owners or there is a 1000 years at a fixed low cost.
Leaseholds are generally the only way of buying flats as there is nothing wrong with them or the way the leaseholds are issued. Normally you get to live in the property free of any worry about its structure, roof, the grounds its in etc and only have to pay a small ground rent or monthly maintenance charges.

Leasehold houses are much the same although the moral issues around them are what is dubious at the moment in the news etc.

And remember NO ONE has been miss-sold a leasehold. Buyers either didn’t read all the info in the buyers pack, didn’t understand all the info in the buyers pack and couldn’t be bothered to get the answers themselves, had a terrible solicitor doing the conveyancing that lied (in which case the redress is with the solicitors and not the sellers), or thought it was cheap enough at the time and didn’t plan/save for the increase in charges later in the agreement.

Wish people would stop blaming others and start taking responsibility for their actions!

I say this as someone who has owned multiple leases over the years and have been fully aware of all the implications when i put pen to paper and sign up!
Edited by: "ArcadeAssassin" 15th Jan
qwales15/01/2020 14:35

I wouldn't buy one unless the lease is shared amongst the flat owners or …I wouldn't buy one unless the lease is shared amongst the flat owners or there is a 1000 years at a fixed low cost.


Leasehold would be owned by each flat separately. Freehold would be shared amongst flat owners.
ArcadeAssassin15/01/2020 14:43

Leasehold would be owned by each flat separately. Freehold would be shared …Leasehold would be owned by each flat separately. Freehold would be shared amongst flat owners.



I don't agree, I'm no expert but I've purchased 5 houses and a flat - Freehold is usually assigned to houses as it means you own the land your property is on, which is often the case when you buy a house. Some property can be sold on lease for a specific time period and then automatically returns to it's owner after that period. Often the time of the lease is a figure like 999 years and you have a small fee to pay for each year. The short term lease properties are usually much cheaper unless they are buisnesses. Flats usually are leasehold and can be owned by a private company who's members are the flat owners (no time constraint) or by an external company who owns the land and will charge you maintenance for keeping the grounds and building in good order, there may also be a time constraint on the lease and when it expires you no longer own the property. If you have a flat on the ground floor of a multi-story building and the roof caves in, you all have to pay. Same for any other necessary work that affects all owners. There should be an agreement of a regular payment in the details when you purchase a place that needs regular maintenance to maintain the grounds, paintwork etc.
qwales15/01/2020 15:46

I don't agree, I'm no expert but I've purchased 5 houses and a flat - …I don't agree, I'm no expert but I've purchased 5 houses and a flat - Freehold is usually assigned to houses as it means you own the land your property is on, which is often the case when you buy a house. Some property can be sold on lease for a specific time period and then automatically returns to it's owner after that period. Often the time of the lease is a figure like 999 years and you have a small fee to pay for each year. The short term lease properties are usually much cheaper unless they are buisnesses. Flats usually are leasehold and can be owned by a private company who's members are the flat owners (no time constraint) or by an external company who owns the land and will charge you maintenance for keeping the grounds and building in good order, there may also be a time constraint on the lease and when it expires you no longer own the property. If you have a flat on the ground floor of a multi-story building and the roof caves in, you all have to pay. Same for any other necessary work that affects all owners. There should be an agreement of a regular payment in the details when you purchase a place that needs regular maintenance to maintain the grounds, paintwork etc.


This covers it in more detail and more precisely than I could (some of what you have said is correct some isn't):
moneyadviceservice.org.uk/en/…ons

@OP if unhappy with the management arrangements then read up on right to manage
Edited by: "Bertz99" 15th Jan
qwales15/01/2020 15:46

I don't agree, I'm no expert but I've purchased 5 houses and a flat - …I don't agree, I'm no expert but I've purchased 5 houses and a flat - Freehold is usually assigned to houses as it means you own the land your property is on, which is often the case when you buy a house. Some property can be sold on lease for a specific time period and then automatically returns to it's owner after that period. Often the time of the lease is a figure like 999 years and you have a small fee to pay for each year. The short term lease properties are usually much cheaper unless they are buisnesses. Flats usually are leasehold and can be owned by a private company who's members are the flat owners (no time constraint) or by an external company who owns the land and will charge you maintenance for keeping the grounds and building in good order, there may also be a time constraint on the lease and when it expires you no longer own the property. If you have a flat on the ground floor of a multi-story building and the roof caves in, you all have to pay. Same for any other necessary work that affects all owners. There should be an agreement of a regular payment in the details when you purchase a place that needs regular maintenance to maintain the grounds, paintwork etc.


Everything you say is true and i agree.

Your post i responded to was in reference to the flat owners sharing a lease. This is not possible. Each flat would have its own lease because if someone wanted to move out, all the other flat owners would have to be contacted to confirm the change of lease.

Freehold however can be shared. I have just sold three separate flats to three separate groups of people in the same small building. They all have their own long lease, however they also all purchased 1 third of the freehold each as well. I now have nothing to do with the property and they have set up a management company between them to deal with the freehold and daily maintenance/accounts etc but the leases are theirs and theirs alone. One could move out and sell the lease in a few years but still keep their one third of the freehold if they wish.

Thats what i meant when referring to your comment.
Edited by: "ArcadeAssassin" 15th Jan
I own and live in a leasehold flat.
Lease is over 110years
Management and ground rent comes to around £40 a month. Actually has reduced last year.
rimalpatel00715/01/2020 19:52

I own and live in a leasehold flat. Lease is over 110yearsManagement and …I own and live in a leasehold flat. Lease is over 110yearsManagement and ground rent comes to around £40 a month. Actually has reduced last year.


wow your lucky - £120 a month management fees, ground rent is £180 a year.

ArcadeAssassin15/01/2020 14:40

Leaseholds are generally the only way of buying flats as there is nothing …Leaseholds are generally the only way of buying flats as there is nothing wrong with them or the way the leaseholds are issued. Normally you get to live in the property free of any worry about its structure, roof, the grounds its in etc and only have to pay a small ground rent or monthly maintenance charges. Leasehold houses are much the same although the moral issues around them are what is dubious at the moment in the news etc. And remember NO ONE has been miss-sold a leasehold. Buyers either didn’t read all the info in the buyers pack, didn’t understand all the info in the buyers pack and couldn’t be bothered to get the answers themselves, had a terrible solicitor doing the conveyancing that lied (in which case the redress is with the solicitors and not the sellers), or thought it was cheap enough at the time and didn’t plan/save for the increase in charges later in the agreement. Wish people would stop blaming others and start taking responsibility for their actions!I say this as someone who has owned multiple leases over the years and have been fully aware of all the implications when i put pen to paper and sign up!


There are a massive number of issues with leasehold, its been misold for far too many years as home ownership, when in fact its glorified renting, you don't own the home you pay the mortgage on, you can't really give it to your kids when you die, as leasehold properties values take a major hit when the leases drop to around 80 years.
These are things that the sales people do not tell you, nor do the estate agents, solicitors etc. The problem in that situation is the sheer amount of money wanted by the leaseholder to extend the leases becomes extortionate.

Things need to change and leasehold needs to be abolished.
In a previous employ, I had dealings with a fair few management companies for leasehold properties and they don't half spend a lot on things unrelated to property maintenance.
Pandamansays16/01/2020 08:07

In a previous employ, I had dealings with a fair few management companies …In a previous employ, I had dealings with a fair few management companies for leasehold properties and they don't half spend a lot on things unrelated to property maintenance.


and they charge the leaseholders whatever they want, no regulation at all. The management company were stuck with send traders from 150 miles away sometimes, instead of using local traders. It's insane.
Bertz9915/01/2020 16:24

This covers it in more detail and more precisely than I could (some of …This covers it in more detail and more precisely than I could (some of what you have said is correct some isn't):https://www.moneyadviceservice.org.uk/en/articles/leasehold-or-freehold-financial-implications@OP if unhappy with the management arrangements then read up on right to manage


I'm looking into right to manage at the moment I found out we the leaseholders can become directors of the ltd company that was setup when the properties were built, but no one told us about it, I found out just before Christmas, so I'm in the process of identifying other leaseholders/owners and hoping to get this ball rolling.
fuzed16/01/2020 08:01

wow your lucky - £120 a month management fees, ground rent is £180 a y …wow your lucky - £120 a month management fees, ground rent is £180 a year.There are a massive number of issues with leasehold, its been misold for far too many years as home ownership, when in fact its glorified renting, you don't own the home you pay the mortgage on, you can't really give it to your kids when you die, as leasehold properties values take a major hit when the leases drop to around 80 years. These are things that the sales people do not tell you, nor do the estate agents, solicitors etc. The problem in that situation is the sheer amount of money wanted by the leaseholder to extend the leases becomes extortionate.Things need to change and leasehold needs to be abolished.


You are the first person I have heard of that didn't understand how a leasehold property works after buying a property. Obviously you weren't mis-sold. You just failed to do your research and read the lease before signing it,
fuzed16/01/2020 08:09

and they charge the leaseholders whatever they want, no regulation at all. …and they charge the leaseholders whatever they want, no regulation at all. The management company were stuck with send traders from 150 miles away sometimes, instead of using local traders. It's insane.


No regulation at all you say......



gov.uk/lea…ses
fuzed16/01/2020 08:01

wow your lucky - £120 a month management fees, ground rent is £180 a y …wow your lucky - £120 a month management fees, ground rent is £180 a year.There are a massive number of issues with leasehold, its been misold for far too many years as home ownership, when in fact its glorified renting, you don't own the home you pay the mortgage on, you can't really give it to your kids when you die, as leasehold properties values take a major hit when the leases drop to around 80 years. These are things that the sales people do not tell you, nor do the estate agents, solicitors etc. The problem in that situation is the sheer amount of money wanted by the leaseholder to extend the leases becomes extortionate.Things need to change and leasehold needs to be abolished.


I politely suggest that you are using the issues you are having in your specific circumstances to criticise a system that has worked perfectly for millions of people for over a 1000 years.

There is nothing wrong with leaseholds and many many happy people currently live in one and do pass them on to their relatives.

The issue with renewing the lease is obvious when a contract comes to an end and you can request an extension at anytime and the freeholder must quite for it or advise they will be taking the lease back at the end of the term. You don’t have to wait until the end.

Sorry but you really need to do more research in the matters.
Sorry to high jack but on this subject.
At what year does it become difficult to remortgage for leasehold property?
And what years left in the lease should it be renewed?
chocci16/01/2020 08:56

No regulation at all you …No regulation at all you say......https://www.gov.uk/leasehold-property/service-charges-and-other-expenses


that's not regulation, that's just guidance - the problem is there is no real support for leaseholders, LEASE are useless and the First Tier Tribunal charge as much as the fees that your trying to argue, in the past the leaseholder was also liable for the freeholders costs. Things are changing, but not quickly enough sadly.
rimalpatel00716/01/2020 09:44

Sorry to high jack but on this subject. At what year does it become …Sorry to high jack but on this subject. At what year does it become difficult to remortgage for leasehold property?And what years left in the lease should it be renewed?


80 years
chocci16/01/2020 08:53

You are the first person I have heard of that didn't understand how a …You are the first person I have heard of that didn't understand how a leasehold property works after buying a property. Obviously you weren't mis-sold. You just failed to do your research and read the lease before signing it,


it looks like you've had your head stuck in the sand then - do a search for leasehold scandal, and you'll see the extent of it.
ArcadeAssassin16/01/2020 09:39

I politely suggest that you are using the issues you are having in your …I politely suggest that you are using the issues you are having in your specific circumstances to criticise a system that has worked perfectly for millions of people for over a 1000 years. There is nothing wrong with leaseholds and many many happy people currently live in one and do pass them on to their relatives. The issue with renewing the lease is obvious when a contract comes to an end and you can request an extension at anytime and the freeholder must quite for it or advise they will be taking the lease back at the end of the term. You don’t have to wait until the end. Sorry but you really need to do more research in the matters.


I poltely suggest that you have NO clue as to what's really going on. Please do read up a bit more about it, there are thousands of people who have been mis-sold, lied to, or not been provided correct guidance by the solicitors.

Freeholders have and are using the system to fleece those with shorter leases, there is a consultation in place at the moment with the law commission that is looking into this, as there are issues surround lease extensions etc.
This includes restricting what can be charged by freeholders, as they are able to charge whatever they like at this moment in time.
Unless your stuck in the situation that many are I highly doubt you'll have any idea as to the stress this sort of thing can cause.
fuzed16/01/2020 10:01

that's not regulation, that's just guidance - the problem is there is no …that's not regulation, that's just guidance - the problem is there is no real support for leaseholders, LEASE are useless and the First Tier Tribunal charge as much as the fees that your trying to argue, in the past the leaseholder was also liable for the freeholders costs. Things are changing, but not quickly enough sadly.


you clearly cant read properly then. Have another try:-

Service charges
Your lease sets out the way the service charge is organised and what can be charged. If you pay a service charge, you have the right to:

  • ask for a summary showing how the charge is worked out and what it’s spent on
  • see any paperwork supporting the summary, such as receipts
Your landlord must give you this information - it’s a criminal offence if they don’t.
ArcadeAssassin15/01/2020 14:40

Leaseholds are generally the only way of buying flats as there is nothing …Leaseholds are generally the only way of buying flats as there is nothing wrong with them or the way the leaseholds are issued. Normally you get to live in the property free of any worry about its structure, roof, the grounds its in etc and only have to pay a small ground rent or monthly maintenance charges. Leasehold houses are much the same although the moral issues around them are what is dubious at the moment in the news etc. And remember NO ONE has been miss-sold a leasehold. Buyers either didn’t read all the info in the buyers pack, didn’t understand all the info in the buyers pack and couldn’t be bothered to get the answers themselves, had a terrible solicitor doing the conveyancing that lied (in which case the redress is with the solicitors and not the sellers), or thought it was cheap enough at the time and didn’t plan/save for the increase in charges later in the agreement. Wish people would stop blaming others and start taking responsibility for their actions!I say this as someone who has owned multiple leases over the years and have been fully aware of all the implications when i put pen to paper and sign up!


I think you must have been lucky. You've avoided being expected to fork out thousands of pounds to replace a roof of upgrade a building. You've not bern told to pay towards replacing dangerous cladding. Freehold investmenment companies buy the freehold then pay nothing towards maintaining the building. That money comes from the leaseholders via their service charge or one-off charges for any expensive maintenance that can't be covered by their reserve fund.
Many leaseholders live in apartment blocks where maintenance of the building by the landlord is either inadequate or non existent. The maintenance charge often includes a large chunk of money that goes towards paying an inflated managing agent fee. Then there are permission/notification fees to add. In the case of newer leaseholds, the ground rent is currently high and may rise over time at a rate that the government now agrees is onerous, which is why future ground rents are due to be set at 0%. There's a lot wrong with existing leases, which won't be helped by this proposed change.
I'm not a leaseholder, but I viewed some new houses 4 years ago. I was told in at least three showrooms that I'd be able to buy the freehold after two years for about £4,000. I wasn't told was that the developer would sell the freehold on before then to an investment company and that the freehold cost would rise by several thousand pounds. Many people who bought leasehold houses made the mistake of trusting what they were told by developers' sales teams. In some cases, the freehold had even been sold on before they bought the lease on the understanding that they could buy the freehold after two years for a few thousand pounds
.
qwales15/01/2020 14:35

I wouldn't buy one unless the lease is shared amongst the flat owners or …I wouldn't buy one unless the lease is shared amongst the flat owners or there is a 1000 years at a fixed low cost.

chocci16/01/2020 10:58

you clearly cant read properly then. Have another try:-Service chargesYour …you clearly cant read properly then. Have another try:-Service chargesYour lease sets out the way the service charge is organised and what can be charged. If you pay a service charge, you have the right to:ask for a summary showing how the charge is worked out and what it’s spent onsee any paperwork supporting the summary, such as receiptsYour landlord must give you this information - it’s a criminal offence if they don’t.


yes they give that information, it doesn't mean what they can charge is regulated, there is no control over what the management agents will charge a leaseholder. A leaseholder is at the mercy of a management agent, many of them are unscrupulous, and charge insane amounts of money for doing not a great deal.

The management agents are unregulated, for example they will provide buildings insurance for a building, and yes you can ask them for a breakdown of the costs.
The management agent can provide you with what they've been quoted, but unless your a owner/director of the site, you are not provided any detail about why they chose that insurance provider, or even what commisions they've taken. This is then charged back at full to the leaseholder.

It is commonly known that some management agents will take commissions from buildings insurance. You have no idea about the subject, throwing a few links doesn't mean you do have a clue, so do not even suggest I can't read.
Leasehold hasn't worked for hundreds of years and if you look at what leasehold is it is beyond a joke. I planned to buy my freehold for about 4k too in 2016 but was told I had to wait 2 years to buy it. Turns out my freehold was sold on without my knowledge after 2 months to an investor and the price had tripled overnight.... If that's not mis-selling I don't know what is? Scam artists. #leaseholdscandal
fuzed16/01/2020 11:09

yes they give that information, it doesn't mean what they can charge is …yes they give that information, it doesn't mean what they can charge is regulated, there is no control over what the management agents will charge a leaseholder. A leaseholder is at the mercy of a management agent, many of them are unscrupulous, and charge insane amounts of money for doing not a great deal.The management agents are unregulated, for example they will provide buildings insurance for a building, and yes you can ask them for a breakdown of the costs. The management agent can provide you with what they've been quoted, but unless your a owner/director of the site, you are not provided any detail about why they chose that insurance provider, or even what commisions they've taken. This is then charged back at full to the leaseholder.It is commonly known that some management agents will take commissions from buildings insurance. You have no idea about the subject, throwing a few links doesn't mean you do have a clue, so do not even suggest I can't read.


But you obviously can't read if you signed a lease and were unaware you would have to pay management and ground rent charges. They are clearly shown in every lease.
chocci16/01/2020 14:55

But you obviously can't read if you signed a lease and were unaware you …But you obviously can't read if you signed a lease and were unaware you would have to pay management and ground rent charges. They are clearly shown in every lease.


If a person has never been involved in purchasing a leasehold property a person would hope that the solicitor that is instructed should be explaining the basics at the very least, which wasn't the case when I purchased (this was over 10 years ago). There are a lot of people in the same situation, are you telling me that they should have read the paperwork and done their homework and known they were going to get fleeced/ripped off by unregulated thieving management agents?

It appears as though you believe everything is hunky dory in the housing sector and permission, and all the large home builders are doing what they can to make sure the home buyers are not fleeced.

Sadly that isn't the case.
chocci16/01/2020 14:55

But you obviously can't read if you signed a lease and were unaware you …But you obviously can't read if you signed a lease and were unaware you would have to pay management and ground rent charges. They are clearly shown in every lease.


also the leases do not detail what the management charges are, instead a leaseholder is left to the mercy of the management agent as to what they are charged. Flat owners have a harder life as they can't just change the management agent, lots of work is involved which included having at least X number of leaseholders agree to the change etc, then work has to be done to get those leaseholders as directors and then apply for the Right To Manage. The system is not in favour of leaseholders and more in favour of the freeholders and management agents.
fuzed16/01/2020 15:09

If a person has never been involved in purchasing a leasehold property a …If a person has never been involved in purchasing a leasehold property a person would hope that the solicitor that is instructed should be explaining the basics at the very least, which wasn't the case when I purchased (this was over 10 years ago). There are a lot of people in the same situation, are you telling me that they should have read the paperwork and done their homework and known they were going to get fleeced/ripped off by unregulated thieving management agents?It appears as though you believe everything is hunky dory in the housing sector and permission, and all the large home builders are doing what they can to make sure the home buyers are not fleeced. Sadly that isn't the case.


Yes I am. One would hope that anyone purchasing a property would do their own research and also ask what the charges are before signing

Sadly, this didn't appear to be the case


It worries me how little a few people know about buying a leasehold property.
Edited by: "chocci" 16th Jan
I’m not sure what the point of this thread actually is.
Buying a property is the most expensive decision you’ll ever make, then why wouldn’t buyers do due diligence on matters surrounding the lease and ground rent. Perhaps buyers are too polite when their chosen solicitors ask them do they fully understand the lease, ground rent, monthly maintenance charges and the Management Company duties. The solicitor should ask the Management Company for at least the lastest set of accounts and for information on any special works to be undertaken that would be in addition to the Service Charges. They should also work out pro-rata the amount of charges to be paid until year end.
OP, at your long length of ownership, either form a Residents Association with your neighbours and challenge the rising costs or perhaps think about moving.
Buyer must ask the estate agent how much management fees and ground rent is before making the house viewing to ensure it meets their budget.
I always go by the mantra of as soon as leasehold is mentioned, turn around, run away and never look back.
rimalpatel00716/01/2020 16:42

Buyer must ask the estate agent how much management fees and ground rent …Buyer must ask the estate agent how much management fees and ground rent is before making the house viewing to ensure it meets their budget.


I asked they told me a figure and I thought it was reasonable, it has peppercorn ground rent and a reasonable service charge we complete soon
Toptrumpet16/01/2020 16:26

I’m not sure what the point of this thread actually is. Buying a property i …I’m not sure what the point of this thread actually is. Buying a property is the most expensive decision you’ll ever make, then why wouldn’t buyers do due diligence on matters surrounding the lease and ground rent. Perhaps buyers are too polite when their chosen solicitors ask them do they fully understand the lease, ground rent, monthly maintenance charges and the Management Company duties. The solicitor should ask the Management Company for at least the lastest set of accounts and for information on any special works to be undertaken that would be in addition to the Service Charges. They should also work out pro-rata the amount of charges to be paid until year end. OP, at your long length of ownership, either form a Residents Association with your neighbours and challenge the rising costs or perhaps think about moving.


Some solicitors do that, it wasn't commonplace when I purchased over 10 years ago.

Most management companies will provide a sellers pack for a fee, which covers all the fees etc, but a solicitor must request that from the seller. Some management agents are known to cause issues in relation to sellers packs, i..e. very very expensive packs for litterally a few documents, others are just very slow to respond.

The point to the thread was to ask whether people had issues with their leasehold properties, and if so what sort of issues, as some have mentioned there are alot of uninformed potential 'home owners' out there that won't know what they should be asking before buying... if one person is educated a bit, all the better.
Edited by: "fuzed" 17th Jan
OK, now I understand, your opening post suggested you were still very disgruntled over the way your purchase was handled, even though your 10 years on now.
I own 4 leasehold flats in different developments and used the same solicitors, I think that helps as you feel more at ease asking what may be the daftest of questions.
The only problem that I can see on my horizon, is one of the leases has fallen below 90 years and if I want to extend the lease, it’s not at a cost with a given formula as there is no lease extension calculator/tool. I will have to employ a Specialist to negotiate on my behalf with the freeholder and I will never know what my neighbours may have negotiated and paid to extend their leases as the information is not recorded with/land registry.
ArcadeAssassin15/01/2020 14:40

Leaseholds are generally the only way of buying flats as there is nothing …Leaseholds are generally the only way of buying flats as there is nothing wrong with them or the way the leaseholds are issued. Normally you get to live in the property free of any worry about its structure, roof, the grounds its in etc and only have to pay a small ground rent or monthly maintenance charges. Leasehold houses are much the same although the moral issues around them are what is dubious at the moment in the news etc. And remember NO ONE has been miss-sold a leasehold. Buyers either didn’t read all the info in the buyers pack, didn’t understand all the info in the buyers pack and couldn’t be bothered to get the answers themselves, had a terrible solicitor doing the conveyancing that lied (in which case the redress is with the solicitors and not the sellers), or thought it was cheap enough at the time and didn’t plan/save for the increase in charges later in the agreement. Wish people would stop blaming others and start taking responsibility for their actions!I say this as someone who has owned multiple leases over the years and have been fully aware of all the implications when i put pen to paper and sign up!


What a load of rubbish.

Firstly Leasehold is a long term tenancy agreement, it's not the same as outright ownership. gov.uk/gov…ase

Leasehold is NOT the only way to buy a flat. The Law Commission is reinvigorating Commonhold. We are only of the only countries left with this feudal archaic leasehold system. Even Scotland use Commonhold. lawcom.gov.uk/pro…ld/

Commonhold has many benefits. It removes the 3rd party freeholder who serves no purpose other than to create an income stream and insurance kick backs. Even common hold would still need management agents, the difference is they would work for us and not a greedy 3rd party freehold. It's all about control and leasehold you have ZERO!!.

Ground rents - well there is no justification on ground rents. They historically were a peppercorn (ZERO) and the government will soon be legislating to make future ground rents ZERO. Remember ground rent is for no service.

How do you know no one was miss sold? you seem to be making a judgement based on ZERO facts. I gave evidence in Westminster last year at the Leasehold Select Committee Inquiry which produced a damning report. Following this the Competition & Markets Authority are undertaking an Inquiry into Miss-selling and onerous lease terms.The CMA is investigating potential breaches of consumer protection law in the leasehold housing market.

People were lied to at the point of sale. They were systematically miss sold their homes.

Anyone else reading this who have also been miss sold their leasehold property please join the 16K members of the National Leasehold Campaign (NLC)



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chocci16/01/2020 08:53

You are the first person I have heard of that didn't understand how a …You are the first person I have heard of that didn't understand how a leasehold property works after buying a property. Obviously you weren't mis-sold. You just failed to do your research and read the lease before signing it,


How strange. I'm aware of over 16k in the National Leasehold Campaign (NLC)39723781-GuhXk.jpg
Toptrumpet17/01/2020 14:53

OK, now I understand, your opening post suggested you were still very …OK, now I understand, your opening post suggested you were still very disgruntled over the way your purchase was handled, even though your 10 years on now.I own 4 leasehold flats in different developments and used the same solicitors, I think that helps as you feel more at ease asking what may be the daftest of questions.The only problem that I can see on my horizon, is one of the leases has fallen below 90 years and if I want to extend the lease, it’s not at a cost with a given formula as there is no lease extension calculator/tool. I will have to employ a Specialist to negotiate on my behalf with the freeholder and I will never know what my neighbours may have negotiated and paid to extend their leases as the information is not recorded with/land registry.


If your ground rent is above £250 per year or more than 0.1% value of the flat you may struggle to sell it. Many lenders will not lend on these lease terms as if GR is over £250 outside of London it become an AST. This changes a lot and a Deed of Variation (DOV) may be needed.
leaseholdandparkhomelaw.wordpress.com/201…on/
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