I can’t buy a house far too expensive for me, however I am going to a viewing to see a lovely flat. I know about the ground rent and the service charge, I can’t maintain a house, the flat is my best option for me. This was a very interesting video, I actually found out why you have ground rent, thanks for your excellent advice.
Didn't know you don't own the land on a flat! Always thought service charges were because of other flats borders and it solved privacy and being a good neighbor, once again a good information video. Thank you R.F.S.
To James Russell - service charges have nothing to do with the other flats, don't know how you got that idea. However, when the Management Company wish to carry out work on the whole building (like a new roof) they will split the money for this 'extra' work between all the flats. 10 flats will be split 10 ways. The Ground Rent is paid (usually) direct to the Freeholder (owner of the land upon which the building sits). Service Charges are paid to the Management Company - who incidentally hardly ever 'manage' anything!!
I prefer house , live in a flat at the moment, looking to buy my own place. Never want a flat, I have had the most annoying neighbours upstairs for 5 years and wfh is nightmare if you have no garden space. Also my landlord doesn’t want to upgrade anything, they hiked the rent in 2020, and what I’m paying for the flat and condition of it is not with me wasting anymore money. If prefer to be able to change things if they are broken or change carpet if it’s seen better days! Thanks
To Jo Line. Thank you for letting me know l was wrong! About service charges on a flat, an easy mistake! Thats why I always use RFS To put me on the right path and follow the video's. James.
Hi, may I know the diiference of the price performance between flat and house? I know its various due to lots of reason, but is there any general and historical figures to show how much they worth differently? 🙇🏼♂️ I am a flat owner, buy to live, and I concern the price performance in the future in terms of investment. It would be great if you can have more videos to show these kind of comparison to us :)
I am single , no kids or partner, should I get a smaller mortgage flat or go big on a house? I have 10k and I’m on 40k but is there any point? The prices are a joke and I’m losing faith.
Thanks for the video. But in Scotland many of the flats are freehold on the contrary to England. Maybe you can change the title of the video as England instead of UK:)
To Glen: a house every time. There are so many negatives when purchasing a flat, as you forgot to mention that if you do wish to make any alterations to the flat you have to get the Freeholder's permission and this is done via your solicitors AND you have to pay the Freeholder's solicitors fees as well for the questions and the Licence to Alter if he agrees.
A really interesting video, Glen. Also, I really like your backdrop now, the video is looking really smart!
Thank you, yes I have finally found a consistent background now which works so hopefully this is better for the viewers. Thanks Gary 👍🏻
I can’t buy a house far too expensive for me, however I am going to a viewing to see a lovely flat. I know about the ground rent and the service charge, I can’t maintain a house, the flat is my best option for me. This was a very interesting video, I actually found out why you have ground rent, thanks for your excellent advice.
Didn't know you don't own the land on a flat! Always thought service charges were because
of other flats borders and it solved privacy and being a good neighbor, once again a good information video. Thank you R.F.S.
Thank you James for your comment. I’m pleased they are helping and thanks for watching.
To James Russell - service charges have nothing to do with the other flats, don't know how you got that idea. However, when the Management Company wish to carry out work on the whole building (like a new roof) they will split the money for this 'extra' work between all the flats. 10 flats will be split 10 ways. The Ground Rent is paid (usually) direct to the Freeholder (owner of the land upon which the building sits). Service Charges are paid to the Management Company - who incidentally hardly ever 'manage' anything!!
I prefer house , live in a flat at the moment, looking to buy my own place. Never want a flat, I have had the most annoying neighbours upstairs for 5 years and wfh is nightmare if you have no garden space. Also my landlord doesn’t want to upgrade anything, they hiked the rent in 2020, and what I’m paying for the flat and condition of it is not with me wasting anymore money. If prefer to be able to change things if they are broken or change carpet if it’s seen better days! Thanks
Prime example. I hope you manage to find your house 👍🏻 thank you for your comment
Living below people can be hell. Been there and never again.
I totally agree
To Jo Line. Thank you for letting me know l was wrong! About service charges on a flat, an easy mistake! Thats why I always use RFS To put me on the right path and follow the video's. James.
Thank u so much I didn't know this
My pleasure and I’m pleased you found it helpful 👍🏻
Hi, may I know the diiference of the price performance between flat and house? I know its various due to lots of reason, but is there any general and historical figures to show how much they worth differently? 🙇🏼♂️
I am a flat owner, buy to live, and I concern the price performance in the future in terms of investment.
It would be great if you can have more videos to show these kind of comparison to us :)
Very interesting thanks. Can I ask if you have a view on buying a property with a tenant in situ?
I am single , no kids or partner, should I get a smaller mortgage flat or go big on a house? I have 10k and I’m on 40k but is there any point? The prices are a joke and I’m losing faith.
Thanks for the video. But in Scotland many of the flats are freehold on the contrary to England. Maybe you can change the title of the video as England instead of UK:)
Thank you for the feedback
freehold flats aren't necessarily a good idea plus you can't have a full freehold on a flat, only a share of freehold
Hello. Ground rent is going to go . Do you still recommend to buy house?
Yes in my opinion
The problem with flats right now that I’m seeing is the cladding scandal
Well the government have now scrapped the ESW1 forms so it was a huge issue which now seems to of gone away
great upload
Thank you 🙏🏼
Welcome 🙂
What would be your preference? A flat or a house?
To Glen: a house every time. There are so many negatives when purchasing a flat, as you forgot to mention that if you do wish to make any alterations to the flat you have to get the Freeholder's permission and this is done via your solicitors AND you have to pay the Freeholder's solicitors fees as well for the questions and the Licence to Alter if he agrees.
Thank you for your comment Jo. Yes you are correct. And a great point well made. My preference is most definitely a house.
Please someone answer me; if you buy a flat in England in cash, do you still have to pay monthly? And what fees are you paying monthly?
Sorry pay what monthly? You won’t have a mortgage if your buy cash outright. But your still have bills
@@glenrussellproperty oh i get it now. Thank you!
My pleasure 👍🏻