When I looked at UK property several years ago, I didn't even know what leasehold meant. After I finally understood it, I thought, "what the hell?? I have to pay hundreds of thousands of pounds, but someone else owns and controls the land? A British friend then showed me a large area in London where the land under dozens of buildings is owned by the heir of an old aristo family. None of the building owners can do anything without his say so. Boggles the mind.
Also, the freeholder and management company can both charge a fee, and the management company can increase the fee so high that most people wouldn't want to buy the flat, which can make it difficult to sell.
I'm Jamaican, let me tell you how it works here. The government will build houses for a few persons who are disadvantaged like the elderly and sick, that has no help. Regular taxpayers have no social housing or safety net like benefits. These "1st world" countries stretch themselves thin trying to do so much but end up messing it all up. It's better they let everyone find their own way rather than sticking their nose in.
Duke of Westminster owns premium land in London eg half of Mayfair, US Embassy etc. The 7th Duke of Westminster, Hugh Grosvenor, has an estimated net worth of £10.127 billion, according to the 2024 Sunday Times Rich List. This makes him the 14th wealthiest person in the United Kingdom and the richest person under 40. Here are some other details about the Duke of Westminster: He inherited the title and Grosvenor Estate from his father, Gerald Cavendish Grosvenor, in 2016. He controls Grosvenor Group, a British real estate company that owns 300 acres in Belgravia and Mayfair. He is also the Chair of Trustees of the Westminster Foundation, which supports vulnerable youth and their families. He heads the Defence and Rehabilitation Centre, which supports wounded military veterans. The Grosvenor family has a distant link to the royal family, but still has strong familial ties.
You clearly don't understand economics. It's funny that this is happening all over the world and yet people are point their fingers at their own governments. Yes they've made it worse, but they're guilty of incompetence. Nothing more. Let's face it, they can hardly run a bath.
THIS IS A CLASSIC "PROBLEM REACTION SOLUTION" SENARIO. DO YOU REALLY BELIEVE THAT POLITICIANS AND GOVERNMENTS COULD BE THIS STUPID? THERES A NASTY AGENDA AT WORK HERE WAKE UP PEOPLE!
When you produce nothing but make billions in profit off the backs of workers, rents three times higher than the minimum wage in the economy, water, gas, etc. These bring workers into great poverty, make them dependent on food banks and other aid,, Although workers work hard😢😢
I don't believe Brexit had anything to do with House Prices. Prices have everything to do with Supply and Demand, same as here in Australia. Immigration does push up Prices, FACT.
Immigration probably has some effect although a lack of construction of affordable houses is a factor too. Also, people are increasingly willing to take out larger and larger loans, which the banks love because they can increase both the rate of interest and the length of time over which that rate is paid. The fact that the average home buyer has been willing to take on so much debt now means that the average first time buyer has no choice but to do the same, even if they have some help from their parents.
Interestingly, houses in Scotland seem to be viewed as less of a meal ticket to prosperity than a place to live. The issue is there in Edinburgh…but only because of the sheer volume of English who have pumped up house prices.
The real issue is jobs and I don't get why nobody is talking about it. People are all flocking to cities where jobs are available. Meanwhile , there are towns that are ghost towns because nobody wants to live there as there are no job opportunities.
@ciobalina7445 A lot of Australian County Town are so boring and there is nothing to do except tear around like hoons and get drunk and do drugs. They are also very conservative with a small "c'.
SAME IN THE US!!!!!! I make 125K per year and if I did NOT currently own a home with low interest rate, bought before COVID I WOULD NOT be able to /buy own a home in this market !!!!!!!!!!!!!!!!
You cannot be ignoring millions of people coming into the country and taking homes that should go to those already here. If they werent here we wouldnt have this problem. This country got sold out
thats half the issue, the other half is most social housing is mostly occupied by people who are unemployed and on housing benefit. people with no money given a property they cant maintain, and people wonder why its so poorly maintained. then wonder why there is no money to expand supply. giving to the most needy over the most deserving and responsible was a really dumb policy. the original council housing bought from right to buy was pretty good and you had to be employed to get them. libralism went too far
No one should have been allowed to buy Social Housing for peanuts, taking from the younger generation what the older generation had as a basic human right, warm safe,affordable housing for rent, they all had assured/ secure tendencies for life anyway, why wasn't that good enough?
Because Thatcher privatised EVERYTHING... The housing rental market was one of them. The right to buy scheme wasn't as bad as the other schemes where American vulture companies hoovered up the NHS, the stock market, other vulture companies got our utilities, private profit, public debt basically. At least ORDINARY people got to buy their houses, they took nothing from anyone... If the government hadn't sold off the stock to private housing companies, the HUGE profit generated from rents could have gone into building new housing stock. Reserve your wrath for them mate.
can't be arsed watching this, when we get some honest politicians get back to me. i planned on spending three years tops in this retirement flat, until my son went to uni, then i should have been able to move anywhere in the world, if people - solicitors, management companies, estate management companies had done their job i could have had a dream cottage on the isle of wight, a round the world trip and 60k in the bank, but, everyone had to dick about until it all fell through, twice, i've been trapped in an open prison for eleven years - and now EVERYONE knows - DON'T buy leasehold, thanks. get it sorted.
Your voice counts and you have the time to change it if your nose isnt to the grind stone any more. This is not the Britain I grew up in. It was spend first and sell the grandchildren, now we are reaping what has been sewn.
It’s the same in every developed country. I’m an expat in Australia. Investors are living off the poor who are forever trapped in there rentals. Developers buying up land and building as many properties on compressed land tic tac homes. A two tier society. If your poor your 🤬🤬🤬🤬. Plus record breaking immigration supply and demand is forever at an all time high. Pushing prices up and up
This is hilarious. The victim mentality is so deep in this country. Communism in our schools has rotted everyone's brain. Have you ever tried to develop land ?? The government rules and regulations are insane. Over a million immigrants in the last 2 years.. where are they going to live when the country only builds 170k homes a year. Trying to blame developers and investors is sheer lunacy.
@@Eli-pj8xm I’m from the commonwealth countries we are all cousins. Plus I come on a skilled visa. Supply and demand will always be at a time high. I too was priced out of a city due to interstate and external migrants. You either earn enough or you don’t it’s a dog eat dog society. Unless your fortunate enough go live in social housing where property prices around you are over $800,000 plus
What went wrong was rich private buy to let landlords, mass immigration of law skilled migrants. House builders greed by selling the land to companies that lease back to the buyers.
"law-skilled"? I love the idea of the UK being populated by foreign born lawyers lol. Maybe your lack of literacy explains why employers are so keen to recruit foreigners.
We became a nation of consumers. We bought things we didn't need, made by large companies. Now the large companies have increasing ownership of all kinds of assets. The government, by comparison, is in debt and has been slowly losing its power to regulate industries for a long time.
Cheap houses available in Eritrea, South Sudan and Somalia because all the inhabitants have emigrated to the UK, or now waiting in Calais for the next dinghy in.
The difference is, locals have families who have been paying taxes for generations, which means social housing has been planned for and paid for. New random migrants havnt yet contributed, so mathematically, it doesn't work. Even if you leach off current taxpayers. It takes, generational contributions. Refugees are emergency and only a few. Its the UN that are supposed to identify the origin cause of refugees and deal with that so people, can live in their homelands. Seems like the UN arnt doing this, because its, cheaper to facilitate people leaving their countries and the burden of cost going directly to the host country.
@@jasonhaven7170 they may have a British passport but how long they've been linked to this country? block next to mine, 60 new build apartments from 2011, all allocated to social rent, everyone looks and behaves non British -
@@UncleMort You could sell up & rent, or move in with someone else (depending on relationship status) and pocket the profit to invest elsewhere (if that's your thing).
@@MrPsaunders To rent a similar property is £30K p/a or 10% of my capital. So my capital is losing 10% p/a + the gains I would have made on keeping the property = say a modest 5% p/a. Now find me an investment that is guarantee to pay 15% p/a. and a no increase rental, permanent agreement that covers my lifetime
@UncleMort some products, by comparison, haven't risen in price that much, like video games, so if you sold up and moved to a 1% smaller house, you could afford three times more videogames with the difference than you would if house prices hadn't risen. I'm sorry but this is the only example I could think of! Yes, generally I agree that house price rises don't necessarily benefit home owners.
I moved into an area with a lot of houses where they didn’t own the land lease.. they even cut costs by filling up all the gardens with building rubble then trying to grass over them… I wasn’t really shocked.
and no conveyancing solicitor advised their clients about he pitfalls of leaseholds?? And now we have estate service charges, non adoption by local councils, all semi hidden escalating costs. Mis-selling on a massive scale
The leasehold houses scandal is absolutely shocking, the beneficiaries of that scam need to be required to pay every penny they stole back, and face prison as a deterrent for their disgusting crimes against humanity
It's amazing that very few Brits have figured out what the real problem is. It's not outsiders who a causing most of Britain's problem. They need to look within. Too many Brits are living on benefits. They are sitting on their arses complaining about foreigners who are actually working and paying taxes. Those taxes are paying pensions and benefits.
Can we all take a moment to stop and contemplate just how disastrous David Cameron was to the UK. Austerity and Brexit happened because of him and the consequences are still being felt a decade later.
I mean England is an island. Talk about limited housing issues. The UK should really be limited how much of the housing is available for investment. Then to bring in more people to compete with the native population for this limited resource is outrageous .
Councils have the power for a land grab and have been using green belt land, so, why can't they build more affordable homes, genuinely affordable, not just upper class cookie cutter show homes
Yep all over Bristol 'Labour' demanding that it is illegal for the public to cut their own trees yet the council cut hundreds of trees for no reason....
The landlords and estate agents have milked it for many years, this is what is pushing prices up and up, start capping the rents, bring back housing officers to check the property before people move in to set a fair rent price.
In my understanding it wasn't the cladding that caused the fire. I haven't heard any explanation of how the fire had started. All you hear is that the problem was the cladding. The fire was caused apparently, by someone ran off and left a fat fire burn in a pan.lots of factors must of contributed to how quickly the fire spread and the speed of the emergency services being called and the speed of response to put it out. There are lots of buildings around the country with similar cladding, but they haven't caught fire. All this has achieved is to highlight the lack of maintenance and corner cutting. This in turn shows the downside of leasehold properties and it's abuse.
This was really interesting to watch. I own a shared-ownership house 50%, total house was 190,000. It's lovely and well-designed! And had zero issues with my housing association and they give me lots of freedoms really, obvious some rules and major changes have to be checked, but its usually permanent structure stuff. My rent only goes up based on how like your mobile contract goes up, so small difference and my wage increases in April cover it. However, I can defo see how it is a bad thing and overall it's highly possible you will never own 100% of your own home, even if you could staircase, you have additional fees and stuff to follow as well as the cost of doing it and of course the freehold purchase issue, the way I see it, it's a way of building positive equity before you move on! But I do love my home, my area and the condition of the house is amazing! and very well built, so who knows, but...it's defo part of the problem and not a solution.
They didn’t care about the tower… even now there are still many many builds waiting to have the fire cladding removed… they don’t give a stuff.. never did, never will.
Very interesting documentary and ultimately enraging. As a Brit, the absolute shame and stain that the Grenfell disaster left on our country, is unimaginable. And to see that Clarion report on top? Just absolutely abhorrent.
The second house I bought, I refused to buy unless the original owner bought the freehold first.. best decision I ever made. I am glad that I saw the danger, not everyone does.
46:38 ..Omg. Cry me a river. They bought those properties dirt cheap knowing they were a run down shell and to drag their feet bringing them up to code is gobsmacking. Crying about having to spend the money they wanted to keep as bonuses and shareholder gold pots. Absolute monsters.
this is heartbreaking, but looking at minute 48.. how can you live in an apartment and let it get so bad? if mold starts showing, why let it spread? if there's a leak, why not find a neighbor with a wrench and stop it, if literally no one is willing to help. Does it always needs to be someone else coming over and fixing it for you??? there's a pan collecting water, but the walls behind are black with dirt. not cleaned in ages. It made me sick to my stomach. absolutely appalling.
It’s difficult to find a tradesperson who knows what they’re doing and has availablity to do it . They only want big contracts not small house repairs .
inevitability of giving homes to the under and unemployed in receipt of full housing benefit. someone who cant get their own life in order who needs supervision. how are they supposed to look after a house, they even keep or get a job
Cameron simply LIED. As a housing association tenant of 20+ years, I was told by my H/A that 'as your rented property was built before/after X date, we are exempt from selling it to you'. I wrote to the minister of housing and they confirmed it and told me to 'keep up to date on checking back as this policy may change in the future'. Pah!. This was the only reason I voted for Cameron. But, I have to remember, politics and bull-crud go hand in hand. I console myself with remembering that I am at least in affordable housing. I truly feel for those people in private rented. OMG the prices their are shocking. Should be illegal.
Anyone that lives/lived in London knows for a fact those are not houses,they're merely some shaks,in witch no one invested for so long most still have the original paint and original furniture.and when you inquire about the price they hit you with thousands of pounds a month like what the hell is going on,how is this even possible
Leasehold is fine however what the builders do is get the solicitors to do both ends. Its the solicitors who are negligent. They are not independent. They should have warned the leaseholders. The houses would not get sold if everybody said no - freehold only. Some of the big house builders abused their position. It was akin to fraud and it was the solicitor's negligence.
How come their solicitors didnt explain that they were buying a lease and what the implications were, something isnt adding up, you pay a chunk of money for legal work to look into these things.
Think of all those illegal immigrants who will be entitled to buy. 70% of social housing in Manchester were born abroad. I heard a story of an imigrant being able to buy his house wait and resell it at a £1 million profit. He loved this country where else could he go and make that sort of money for just awning the place you live in rent free. That said the solution is for councils to build their houses with their own work force and train them. Give themselves pp.
House price inflation is based on land prices. It the land that goes up far more than the building cost. Builders in a number of developments hold back stock. Eg a 10,000 development will take 8 - 10 years not 3 years. They have also made sure there are not enough tradesmen. (Landbanking).
This government in the UK actually want the poor to move into EU countries like Italy Portugal and Spain. Housing there is more affordable and their population is collapsing.
Stop blaming immigration for the housing crisis, blame the investors that have been buying more homes in recent years, which has contributed to rising rents and higher costs of resale homes! This is true in Canada too!!!
1952teapot, housing in the UK was very affordable before Blair opened the floodgates to immigration, afterwards prices shot up and have been unaffordable ever since. It's simple supply and demand where you increase the latter but not the former price goes up. Given the level of immigration supply was never going to keep up with demand.
Ah, the slum lords you mean who buy multiple properties, let them fall into disrepair and sell out bedrooms so they can maximise occupancy, legal or not.
My landlord a very extremely ignorant vile person has brought up to about 100 houses in my area dirt cheap and looks after none of them…The council don’t care.. even after health inspections he didn’t fix the work even though it was at risk to life.
I dont know. I am imigrant, I came, took ANY job, got married, bought the house, mortgage, paid the morgage already..working on minimum wage. I understand London is out of question but anywhere else?
What does the future look like for the children who are in lower social classes or from a disadvantaged family. Are we going back to the Middle Ages with the wealth gap divide…..
Yes we are. Just listened to the society's voice on children 'don't have kids if you can't afford them' . Whic first sounds true but if you look closer, children who are 6 + years old are easily was born to two parents having full-time jobs and capable of supporting their offspring. Since then those parents need to top up wages by claiming benefits, ran out of savings....what should they/wedo? Return and refund on the kids? Even in the 17th C England, the right to have children was reserved for the farmer. Their servants/maids had no right. Victorian era, servants needed their lord's permission to marry. We are going back there.
I can sense that people will continue to have children. Some may take into account the current economic, social, crisis Etc. However I think the wealth gap divide will continue to widen. That the ruling and middle classes will have to end up protecting themselves from ever rising crime rates Etc. That we may end up in gated sectioned off communities. As current and future govt Initiatives will never cure poverty and the disadvantaged in a capitalist system it’s a losing battle.
I knew a bloke who used to buy up leases. He used 3 builders to do the maintenance. My mate was one of the builders who used to price up the work to be done plus a backhander to the lease owner. The work specified had to be paid by the leaseholders. Even though a lot of them didn’t want the work done. A big rip off that wasn’t discussed
what else can you do? cant get a mortgage, renting forever and the state pension if there is one will be a pittance. do you spend 30 years paying £300k and 7% interest or pension pot £300k and get 4-7% over 30 years its a no brainer
When will people understand this, a house is not a right it's a privilege. And developers are in the business for profit not charity. They will fix deals to make themselves better not you. It's simple, read and understand before you sign. Don't understand it? Get a lawyer before you sign or you're in trouble.
cool, then let people build there own structures then. at the minute the council will tear it down if you try. then housing MUST be affordable if no alternative is permitted. a right is anything you can do marooned on a desert island. roam where you like say what you like defend yourself from predators and consttruct a shelter for yourself.
Lol Believing ownership of ones house is future security for their loved ones Blaa. Blaaa. BLAAAAAA. MY PARENTS THOUGHT THE SAME WORKED HARD ALL THEIR LIFE my Dad would be going Crazy !,,,if he was still Alive toknow his hard work buying a House to pass down to family was Not what he Believed
First pf all, too late in coordinating and protecting the developers / investors during 18 months of (lawless) lockdown. No.private investors will re-enter in short term.
I don't understand why govts haven't given councils money to begin building social housing en masse therefore removing reliance on the private developers. The problem with this country is capitalism everything is for profit. The essentials of life one of which is housing should not be.
Margaret bloody Thatcher sold of council houses at a huge discount.the money the councils got for the houses they Were not allowed to use the money to build new council they were told to use the money to pay back money the councils borrowed to put up council houses in the first place.
Makes me laugh. Watch the TV show, "Homes under the hammer," and see working-class people snap up affordable houses at auction and tell you it's the 17th house in their portfolio.
@@John-c4r1o oh yeah Ik that but in India we see America is better Britain so in thay context I said anglo saxons both speaking English countries (excluding India we are namesake commonwealth nation lol)
When u push others to apply democrazy but u urselves (the government) no longer adhere to that idea When the citizens think that they're living in a democratic country but in fact it's just the illusions that their government want them to think that way 😂😂😂
A lease is just a very long term rent. Hohoho. Enjoy your 99 year lease with a huge corporation who can ramp up ground rent at will, better than living in a tent. Yes you got to save for a deposit and a mortgage. Deal with it. Also can we please introduce USA style HMO's already? We need Karens fining you for letting your grass grow 2mm too long in your leasehole.
Thanks for the forecast! Just a quick off-topic question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
House prices keep the UK economy going. What a way to run a country !
The banks are making an absolute fortune out of this out of money that is printed out of 'thin air'
When I looked at UK property several years ago, I didn't even know what leasehold meant. After I finally understood it, I thought, "what the hell?? I have to pay hundreds of thousands of pounds, but someone else owns and controls the land? A British friend then showed me a large area in London where the land under dozens of buildings is owned by the heir of an old aristo family. None of the building owners can do anything without his say so. Boggles the mind.
Same here
Also, the freeholder and management company can both charge a fee, and the management company can increase the fee so high that most people wouldn't want to buy the flat, which can make it difficult to sell.
I'm Jamaican, let me tell you how it works here. The government will build houses for a few persons who are disadvantaged like the elderly and sick, that has no help. Regular taxpayers have no social housing or safety net like benefits. These "1st world" countries stretch themselves thin trying to do so much but end up messing it all up. It's better they let everyone find their own way rather than sticking their nose in.
Duke of Westminster owns premium land in London eg half of Mayfair, US Embassy etc.
The 7th Duke of Westminster, Hugh Grosvenor, has an estimated net worth of £10.127 billion, according to the 2024 Sunday Times Rich List. This makes him the 14th wealthiest person in the United Kingdom and the richest person under 40.
Here are some other details about the Duke of Westminster:
He inherited the title and Grosvenor Estate from his father, Gerald Cavendish Grosvenor, in 2016.
He controls Grosvenor Group, a British real estate company that owns 300 acres in Belgravia and Mayfair.
He is also the Chair of Trustees of the Westminster Foundation, which supports vulnerable youth and their families.
He heads the Defence and Rehabilitation Centre, which supports wounded military veterans.
The Grosvenor family has a distant link to the royal family, but still has strong familial ties.
Well they own the land and have agreed to allow people to build on his lands. You can build and buy on freehold land.
Housing Associations or the companies that have taken over them need a serious look at too. The standards are awful.
It's all by design...🎉
Greed
@@tedoneilclark4710 grubs
You clearly don't understand economics. It's funny that this is happening all over the world and yet people are point their fingers at their own governments. Yes they've made it worse, but they're guilty of incompetence. Nothing more. Let's face it, they can hardly run a bath.
@@LovingLifeOnLess what do you mean by this?
What is the design? It makes no sense.
Own nothing and be happy comes to mind.
THIS IS A CLASSIC "PROBLEM REACTION SOLUTION" SENARIO. DO YOU REALLY BELIEVE THAT POLITICIANS AND GOVERNMENTS COULD BE THIS STUPID? THERES A NASTY AGENDA AT WORK HERE WAKE UP PEOPLE!
When you produce nothing but make billions in profit off the backs of workers, rents three times higher than the minimum wage in the economy, water, gas, etc. These bring workers into great poverty, make them dependent on food banks and other aid,, Although workers work hard😢😢
I don't believe Brexit had anything to do with House Prices. Prices have everything to do with Supply and Demand, same as here in Australia. Immigration does push up Prices, FACT.
exactly, its supply and demand of credit. with QE and ZIRP the supply of credit was further ignited after the financial crises of 08.
Yeah but we aren't allowed to mention that in the UK.
Immigration probably has some effect although a lack of construction of affordable houses is a factor too. Also, people are increasingly willing to take out larger and larger loans, which the banks love because they can increase both the rate of interest and the length of time over which that rate is paid. The fact that the average home buyer has been willing to take on so much debt now means that the average first time buyer has no choice but to do the same, even if they have some help from their parents.
Actually that's not true, significant economic changes happened with brexit and yes it did affect housing.
@sherekaweston8495 Don't think so
Renting is a dirty word! - Look at California - one missed rental payment and you’re living in your car - or in a tent.
When since? The same California that banned evictions? The same that made is hard as fuck for landlords? That California?
Interestingly, houses in Scotland seem to be viewed as less of a meal ticket to prosperity than a place to live. The issue is there in Edinburgh…but only because of the sheer volume of English who have pumped up house prices.
True.
Yeah blame the English!! Same for high crime, terrible weather and a crapola football team
in all fairness, the English tax payer probably footed the bill.
we pay almost everything else for the scots.
wish you lot left already
The real issue is jobs and I don't get why nobody is talking about it. People are all flocking to cities where jobs are available. Meanwhile , there are towns that are ghost towns because nobody wants to live there as there are no job opportunities.
@ciobalina7445 A lot of Australian County Town are so boring and there is nothing to do except tear around like hoons and get drunk and do drugs. They are also very conservative with a small "c'.
SAME IN THE US!!!!!! I make 125K per year and if I did NOT currently own a home with low interest rate, bought before COVID I WOULD NOT be able to /buy own a home in this market !!!!!!!!!!!!!!!!
Don’t buy it’s a con, in later life if you end up in a care home they take everything, but if you rent and end up in a care home you get EVERTHING.
You cannot be ignoring millions of people coming into the country and taking homes that should go to those already here. If they werent here we wouldnt have this problem.
This country got sold out
"Brexit will bring down house prices by 18%"
Immigration was never the problem
thats half the issue, the other half is most social housing is mostly occupied by people who are unemployed and on housing benefit.
people with no money given a property they cant maintain, and people wonder why its so poorly maintained.
then wonder why there is no money to expand supply.
giving to the most needy over the most deserving and responsible was a really dumb policy.
the original council housing bought from right to buy was pretty good and you had to be employed to get them.
libralism went too far
@Christina-g4s this is false conciousness
No one should have been allowed to buy Social Housing for peanuts, taking from the younger generation what the older generation had as a basic human right, warm safe,affordable housing for rent, they all had assured/ secure tendencies for life anyway, why wasn't that good enough?
Their greed. They wanted instant gratification. Thats what the 80s/90s was all about, until they crash the market. No war, just greed.
Because Thatcher privatised EVERYTHING... The housing rental market was one of them. The right to buy scheme wasn't as bad as the other schemes where American vulture companies hoovered up the NHS, the stock market, other vulture companies got our utilities, private profit, public debt basically. At least ORDINARY people got to buy their houses, they took nothing from anyone... If the government hadn't sold off the stock to private housing companies, the HUGE profit generated from rents could have gone into building new housing stock. Reserve your wrath for them mate.
can't be arsed watching this, when we get some honest politicians get back to me. i planned on spending three years tops in this retirement flat, until my son went to uni, then i should have been able to move anywhere in the world, if people - solicitors, management companies, estate management companies had done their job i could have had a dream cottage on the isle of wight, a round the world trip and 60k in the bank, but, everyone had to dick about until it all fell through, twice, i've been trapped in an open prison for eleven years - and now EVERYONE knows - DON'T buy leasehold, thanks.
get it sorted.
Your voice counts and you have the time to change it if your nose isnt to the grind stone any more. This is not the Britain I grew up in. It was spend first and sell the grandchildren, now we are reaping what has been sewn.
when you lease hold a car, you rent it.
why would you think a lease hold on housing would be any different?
It’s the same in every developed country. I’m an expat in Australia. Investors are living off the poor who are forever trapped in there rentals. Developers buying up land and building as many properties on compressed land tic tac homes.
A two tier society. If your poor your 🤬🤬🤬🤬. Plus record breaking immigration supply and demand is forever at an all time high. Pushing prices up and up
This is hilarious. The victim mentality is so deep in this country. Communism in our schools has rotted everyone's brain.
Have you ever tried to develop land ?? The government rules and regulations are insane.
Over a million immigrants in the last 2 years.. where are they going to live when the country only builds 170k homes a year.
Trying to blame developers and investors is sheer lunacy.
You are one of those immigrants pushing prices up.
@@Eli-pj8xm I’m from the commonwealth countries we are all cousins. Plus I come on a skilled visa. Supply and demand will always be at a time high. I too was priced out of a city due to interstate and external migrants. You either earn enough or you don’t it’s a dog eat dog society. Unless your fortunate enough go live in social housing where property prices around you are over $800,000 plus
@@sapiens7821 All the same. Immigrant pushing up prices.
Support this campaign
The Leasehold scenario is an example of the bow to "continuity."as is the very bloated monarchy.
What went wrong was rich private buy to let landlords, mass immigration of law skilled migrants. House builders greed by selling the land to companies that lease back to the buyers.
"law-skilled"? I love the idea of the UK being populated by foreign born lawyers lol. Maybe your lack of literacy explains why employers are so keen to recruit foreigners.
We became a nation of consumers. We bought things we didn't need, made by large companies. Now the large companies have increasing ownership of all kinds of assets. The government, by comparison, is in debt and has been slowly losing its power to regulate industries for a long time.
Cheap houses available in Eritrea, South Sudan and Somalia because all the inhabitants have emigrated to the UK, or now waiting in Calais for the next dinghy in.
The difference is, locals have families who have been paying taxes for generations, which means social housing has been planned for and paid for. New random migrants havnt yet contributed, so mathematically, it doesn't work. Even if you leach off current taxpayers. It takes, generational contributions. Refugees are emergency and only a few. Its the UN that are supposed to identify the origin cause of refugees and deal with that so people, can live in their homelands. Seems like the UN arnt doing this, because its, cheaper to facilitate people leaving their countries and the burden of cost going directly to the host country.
90% of new social housing goes to British citizens
Well summarised, couldn't agree with you more.
@@jasonhaven7170 I assume you are correct, although I suspect many of these citizens will have been British for not very long.
@@Diddy1970AD In the words of JRM, "you're either a British citizen or not, I don't believe in degrees of citizenship"
@@jasonhaven7170 they may have a British passport but how long they've been linked to this country? block next to mine, 60 new build apartments from 2011, all allocated to social rent, everyone looks and behaves non British -
Maggie Thatcher thats what went wrong.House prices will never come down unless the housing market crashes and propertys go into negative equity.
It's not a crisis for the people who benefitted from house prices tripling in a decade.
That's true, which is probably most households.
So my £100K house is now worth £300K, which means that if I sell up and move I can buy a house that is exactly the same size.
@@UncleMort You could sell up & rent, or move in with someone else (depending on relationship status) and pocket the profit to invest elsewhere (if that's your thing).
@@MrPsaunders To rent a similar property is £30K p/a or 10% of my capital. So my capital is losing 10% p/a + the gains I would have made on keeping the property = say a modest 5% p/a. Now find me an investment that is guarantee to pay 15% p/a. and a no increase rental, permanent agreement that covers my lifetime
@UncleMort some products, by comparison, haven't risen in price that much, like video games, so if you sold up and moved to a 1% smaller house, you could afford three times more videogames with the difference than you would if house prices hadn't risen. I'm sorry but this is the only example I could think of! Yes, generally I agree that house price rises don't necessarily benefit home owners.
Wake up People. 🎈
I moved into an area with a lot of houses where they didn’t own the land lease.. they even cut costs by filling up all the gardens with building rubble then trying to grass over them… I wasn’t really shocked.
Same in Austalia. Wage increases have been on average 2-3% for the past 30 years, but *housing* inflation is 6-7%.
and no conveyancing solicitor advised their clients about he pitfalls of leaseholds?? And now we have estate service charges, non adoption by local councils, all semi hidden escalating costs. Mis-selling on a massive scale
The leasehold houses scandal is absolutely shocking, the beneficiaries of that scam need to be required to pay every penny they stole back, and face prison as a deterrent for their disgusting crimes against humanity
It's amazing that very few Brits have figured out what the real problem is. It's not outsiders who a causing most of Britain's problem. They need to look within. Too many Brits are living on benefits. They are sitting on their arses complaining about foreigners who are actually working and paying taxes. Those taxes are paying pensions and benefits.
Can we all take a moment to stop and contemplate just how disastrous David Cameron was to the UK. Austerity and Brexit happened because of him and the consequences are still being felt a decade later.
Cameron is an absolute joker. Brexit happened because of austerity.
I mean England is an island. Talk about limited housing issues. The UK should really be limited how much of the housing is available for investment. Then to bring in more people to compete with the native population for this limited resource is outrageous .
Councils have the power for a land grab and have been using green belt land, so, why can't they build more affordable homes, genuinely affordable, not just upper class cookie cutter show homes
Yep all over Bristol 'Labour' demanding that it is illegal for the public to cut their own trees yet the council cut hundreds of trees for no reason....
27:33 That glee, Dupers Delight is sickening.
32:37 They love it, can't even hide their contempt for hard working folks.
The landlords and estate agents have milked it for many years, this is what is pushing prices up and up, start capping the rents, bring back housing officers to check the property before people move in to set a fair rent price.
In my understanding it wasn't the cladding that caused the fire. I haven't heard any explanation of how the fire had started. All you hear is that the problem was the cladding.
The fire was caused apparently, by someone ran off and left a fat fire burn in a pan.lots of factors must of contributed to how quickly the fire spread and the speed of the emergency services being called and the speed of response to put it out. There are lots of buildings around the country with similar cladding, but they haven't caught fire. All this has achieved is to highlight the lack of maintenance and corner cutting. This in turn shows the downside of leasehold properties and it's abuse.
No immigrant ever brought a house with them.
This was really interesting to watch. I own a shared-ownership house 50%, total house was 190,000. It's lovely and well-designed! And had zero issues with my housing association and they give me lots of freedoms really, obvious some rules and major changes have to be checked, but its usually permanent structure stuff. My rent only goes up based on how like your mobile contract goes up, so small difference and my wage increases in April cover it. However, I can defo see how it is a bad thing and overall it's highly possible you will never own 100% of your own home, even if you could staircase, you have additional fees and stuff to follow as well as the cost of doing it and of course the freehold purchase issue, the way I see it, it's a way of building positive equity before you move on! But I do love my home, my area and the condition of the house is amazing! and very well built, so who knows, but...it's defo part of the problem and not a solution.
They didn’t care about the tower… even now there are still many many builds waiting to have the fire cladding removed… they don’t give a stuff.. never did, never will.
I find is disgusting that videos like this are blatantly being shadow hidden
Very interesting documentary and ultimately enraging. As a Brit, the absolute shame and stain that the Grenfell disaster left on our country, is unimaginable. And to see that Clarion report on top? Just absolutely abhorrent.
The second house I bought, I refused to buy unless the original owner bought the freehold first.. best decision I ever made.
I am glad that I saw the danger, not everyone does.
Corruption and bureaucracy.
I struggle to have sympathy with anyone who buys a leasehold property. Like any investment you need to go onto it with your eyes open.
yeah, but consider that person is a bit dim and doesnt understand lease means to rent.
@Christina-g4s Stupidly is no excuse.
if all you can afford is a flat on a shared ownership agreement it's 100% on leasehold deals - yeah, terrible, it should be abolished pronto -
46:38 ..Omg. Cry me a river. They bought those properties dirt cheap knowing they were a run down shell and to drag their feet bringing them up to code is gobsmacking. Crying about having to spend the money they wanted to keep as bonuses and shareholder gold pots. Absolute monsters.
this is heartbreaking, but looking at minute 48.. how can you live in an apartment and let it get so bad? if mold starts showing, why let it spread? if there's a leak, why not find a neighbor with a wrench and stop it, if literally no one is willing to help. Does it always needs to be someone else coming over and fixing it for you??? there's a pan collecting water, but the walls behind are black with dirt. not cleaned in ages. It made me sick to my stomach. absolutely appalling.
It’s difficult to find a tradesperson who knows what they’re doing and has availablity to do it . They only want big contracts not small house repairs .
inevitability of giving homes to the under and unemployed in receipt of full housing benefit.
someone who cant get their own life in order who needs supervision.
how are they supposed to look after a house, they even keep or get a job
As long as it doesn't affect house prices
Cameron simply LIED. As a housing association tenant of 20+ years, I was told by my H/A that 'as your rented property was built before/after X date, we are exempt from selling it to you'. I wrote to the minister of housing and they confirmed it and told me to 'keep up to date on checking back as this policy may change in the future'. Pah!. This was the only reason I voted for Cameron. But, I have to remember, politics and bull-crud go hand in hand. I console myself with remembering that I am at least in affordable housing. I truly feel for those people in private rented. OMG the prices their are shocking. Should be illegal.
Anyone that lives/lived in London knows for a fact those are not houses,they're merely some shaks,in witch no one invested for so long most still have the original paint and original furniture.and when you inquire about the price they hit you with thousands of pounds a month like what the hell is going on,how is this even possible
Leasehold is fine however what the builders do is get the solicitors to do both ends. Its the solicitors who are negligent. They are not independent. They should have warned the leaseholders. The houses would not get sold if everybody said no - freehold only. Some of the big house builders abused their position. It was akin to fraud and it was the solicitor's negligence.
How come their solicitors didnt explain that they were buying a lease and what the implications were, something isnt adding up, you pay a chunk of money for legal work to look into these things.
Think of all those illegal immigrants who will be entitled to buy. 70% of social housing in Manchester were born abroad. I heard a story of an imigrant being able to buy his house wait and resell it at a £1 million profit. He loved this country where else could he go and make that sort of money for just awning the place you live in rent free. That said the solution is for councils to build their houses with their own work force and train them. Give themselves pp.
House price inflation is based on land prices. It the land that goes up far more than the building cost. Builders in a number of developments hold back stock. Eg a 10,000 development will take 8 - 10 years not 3 years. They have also made sure there are not enough tradesmen. (Landbanking).
The Tories happened.
New Labour happened
Tories incressed inequalities much more than the new labours, especially hard-brexiteers
Great news.❤
This government in the UK actually want the poor to move into EU countries like Italy Portugal and Spain.
Housing there is more affordable and their population is collapsing.
We could almost start to compare the state of Housing in England with that of China
Stop blaming immigration for the housing crisis, blame the investors that have been buying more homes in recent years, which has contributed to rising rents and higher costs of resale homes! This is true in Canada too!!!
not true
1952teapot, housing in the UK was very affordable before Blair opened the floodgates to immigration, afterwards prices shot up and have been unaffordable ever since. It's simple supply and demand where you increase the latter but not the former price goes up. Given the level of immigration supply was never going to keep up with demand.
Ah, the slum lords you mean who buy multiple properties, let them fall into disrepair and sell out bedrooms so they can maximise occupancy, legal or not.
Supply and demand. That's why. 🤡
Mass immigration is contributing to this issue and making it way worse. To deny that, is to have your head up your ****.
Perhaps importing yet more people might help fix the problem?
There are a hundred other countries where the cost of housing is far less. Duh
They want to make you pay because their “new homes” thats the problem
My landlord a very extremely ignorant vile person has brought up to about 100 houses in my area dirt cheap and looks after none of them…The council don’t care.. even after health inspections he didn’t fix the work even though it was at risk to life.
i’m 47, white English male, I’ve given up the idea i’ll own a property in this country.
Housing crisis is an unmitigated disaster
Government wanted house prices to go up because members make money with the appreciation.
I dont know. I am imigrant, I came, took ANY job, got married, bought the house, mortgage, paid the morgage already..working on minimum wage. I understand London is out of question but anywhere else?
difference is we pay tax and interest.
government looks the other way with your kind
Where is the proof in that if they are renting they still get to show their payment incomes and if they have enough to pay tax
They are waiting on to see how they can get richer out of this… simple !!and don’t think they found something for them yet … yeep
What does the future look like for the children who are in lower social classes or from a disadvantaged family.
Are we going back to the Middle Ages with the wealth gap divide…..
Yes we are. Just listened to the society's voice on children 'don't have kids if you can't afford them' . Whic first sounds true but if you look closer, children who are 6 + years old are easily was born to two parents having full-time jobs and capable of supporting their offspring. Since then those parents need to top up wages by claiming benefits, ran out of savings....what should they/wedo? Return and refund on the kids? Even in the 17th C England, the right to have children was reserved for the farmer. Their servants/maids had no right.
Victorian era, servants needed their lord's permission to marry.
We are going back there.
I can sense that people will continue to have children. Some may take into account the current economic, social, crisis Etc. However I think the wealth gap divide will continue to widen. That the ruling and middle classes will have to end up protecting themselves from ever rising crime rates Etc. That we may end up in gated sectioned off communities. As current and future govt Initiatives will never cure poverty and the disadvantaged in a capitalist system it’s a losing battle.
I knew a bloke who used to buy up leases. He used 3 builders to do the maintenance. My mate was one of the builders who used to price up the work to be done plus a backhander to the lease owner. The work specified had to be paid by the leaseholders. Even though a lot of them didn’t want the work done. A big rip off that wasn’t discussed
In our Assamese language Now means. Boat / 73 years ago our first Assamese grammar written by an English man. ( Assam in India )
You don’t need to campaign for this, you need to call out usury.
Freehold or private land is the way forward 👍
your immigration killed it all
The average person who is investing for pension has come out in record numbers, making way for large corporates to take over as landlords.
what else can you do?
cant get a mortgage, renting forever and the state pension if there is one will be a pittance.
do you spend 30 years paying £300k and 7% interest or pension pot £300k and get 4-7% over 30 years
its a no brainer
Solomon Brothers. Lewis Ranieri.
Tax the rich
lol they are and the Uk economy is failing.
😂 then they go else where. Like they are.
Reducing the size and influence of governmemt would be far better.
and just like that the Uk economy shrank LOL
A promise that was abandoned
When will people understand this, a house is not a right it's a privilege. And developers are in the business for profit not charity. They will fix deals to make themselves better not you. It's simple, read and understand before you sign. Don't understand it? Get a lawyer before you sign or you're in trouble.
cool, then let people build there own structures then.
at the minute the council will tear it down if you try.
then housing MUST be affordable if no alternative is permitted.
a right is anything you can do marooned on a desert island.
roam where you like
say what you like
defend yourself from predators
and consttruct a shelter for yourself.
Why an amount giant of immigrants??? We have to think before we do something m what the consequences are going to be
The question is: did Persimmons design this leasehold in alignment with the usurious bankers.
Lol Believing ownership of ones house is future security for their loved ones Blaa. Blaaa. BLAAAAAA. MY PARENTS THOUGHT THE SAME WORKED HARD ALL THEIR LIFE my Dad would be going Crazy !,,,if he was still Alive toknow his hard work buying a House to pass down to family was Not what he Believed
First pf all, too late in coordinating and protecting the developers / investors during 18 months of (lawless) lockdown. No.private investors will re-enter in short term.
That includes HMRC, FCA
I don't understand why govts haven't given councils money to begin building social housing en masse therefore removing reliance on the private developers. The problem with this country is capitalism everything is for profit. The essentials of life one of which is housing should not be.
Margaret bloody Thatcher sold of council houses at a huge discount.the money the councils got for the houses they
Were not allowed to use the money to build new council they were told to use the money to pay back money the councils borrowed to put up council houses in the first place.
@dennisfraser6896 that woman singlehandedly destroyed this country and we're still feeling the effects
Politicians talk out of their arse and get paid too much to do it that's what's happened
Rich people creating the problem to profit off it you would think us peasants will learn from history
This is a problem that could easily be fixed instead of sending my tax money to Ukraine you can build more affordable housing…
Too many immigrants and investors
Landlords and a legislation in favour of them are the problems. No immigrants.
The exploding population started by Blair certainly hasn't helped.
Makes me laugh. Watch the TV show, "Homes under the hammer," and see working-class people snap up affordable houses at auction and tell you it's the 17th house in their portfolio.
American dream same as british dream then? lol 🤣😆 anglo saxons
IKR. Easy to manipulate. So sad like has become a soulless rat race to carve out some stability.
British nightmare you mean.
Most of us are neither Anglo or Saxons, these are Germanic tribes.
@@John-c4r1o oh yeah Ik that but in India we see America is better Britain so in thay context I said anglo saxons both speaking English countries (excluding India we are namesake commonwealth nation lol)
When u push others to apply democrazy but u urselves (the government) no longer adhere to that idea
When the citizens think that they're living in a democratic country but in fact it's just the illusions that their government want them to think that way 😂😂😂
Deliberate Decline so we will be owned by the poxy DAVOS not WEF 😂
lmfao🤣
Rent rent rent
What went wrong lol
😮
👍🇮🇳🇮🇳🇮🇳
A lease is just a very long term rent. Hohoho. Enjoy your 99 year lease with a huge corporation who can ramp up ground rent at will, better than living in a tent. Yes you got to save for a deposit and a mortgage. Deal with it. Also can we please introduce USA style HMO's already? We need Karens fining you for letting your grass grow 2mm too long in your leasehole.
Thanks for the forecast! Just a quick off-topic question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
Watching from Guwahati city (India) Mother Kamakhya temple city / English people visit this temple / I know more about uk homes
Opening up uk borders to eastern Europeans has caused many many problems in England
I wish I had Polish in my area instead of what I have! I'm from South Western EU btw -