@@bobjames6622 nah. With freehold you can have major costs like roof repair and if you live in London a house is always far away from the centre. For me and my job it’s better a leasehold. It’s closer to my job and the company is taking care of everything, so when I will be back to Italy for my retirement I will just rent the apartment without worries about the roof leak and gas etc,
@@staedlerok And just WHO do you think also pays for ALL repairs under leasehold? That's right, the TENANTS! DUH! Oh, and with rent, and leasehold you NEVER actually own the property.
Leasehold is theft and can only occur in Britain. The fellow who says it cannot 'just' be scrapped is quite right as too many vested interests own the freehold. The most crazy aspects are exposed by the cladding. Someone who 'owns' 25% of the flat is expected to pay 100% for the removal and restoration of the cladding. Completely bonkers. [Edit: It is no coincidence the UK is awash with scandal after scandal of which this is one.]
I agree that abolishing leasehold will not be fine overnight. What I don’t understand is why the government is not stopping the creation of new leaseholds. This is a simple thing to do. New flats should be built with commonhold as the default tenure.
@@celiapires8090You still pay stamp duty. It's an artificial churn in the economy designed by the government. We tax at point of transaction in the UK. You can also leverage the asset for borrowing which increases spend, again more churn, more tax. Why do you think we have these fixed rate periods too. Again artificial horizon that creates churn. You aren't a worker in the UK, you are the product.
Kudos to the BBC for covering the unfairness of this feudal system. Enough is enough. We need the government to deliver the leasehold and freehold bill NOW!!!
leasholders should have right to buy land ...Service charge should be done by local authority like borough to pay repair very basic things .I should pay not 200£ but 50£ a month .I don't see these money .I wish I could be paid for mowing grass 6000£ a year for a small parcel
@@lily_m3538 Don't buy in London - remove the idea/aspiration from the equation for young people completely. Offer them a reality-check & save them the sleepless nights. It's a fools game in L, unless you're an Oligarch. Any £ spent there lining landlord/developer pockets is dead/silly £ imo. Both my kids moved there for a few years after graduating, for the experience, to make connections, to land good jobs. They did that, had a great time, made life-long friends, got themselves up the ladder a bit, realised the (significant) limitations/wasted £, then got the hell out. It's okay as a temporary stop-gap, if you're young & having a bit of fun, but it's a financially crippling experience/commitment for many long-term. It makes zero financial sense. One positive to come out of covid I guess, is that everyone now knows (including reluctant/archaic employers) that pretty much anyone can work from anywhere nowadays & take advantage of better housing options. When the demand drops, prices, in theory should drop, but it won't happen unless we stop selling every available living space to foreign investor's. Take your time before diving in, try (rent, but briefly) before you buy, consider the options; there are more than you think, & never, ever buy leasehold, anywhere, but especially not in L !!
17k to extend the leasehold to sell 1 bedroom flat. 13 months later, just sent to the land registry. Another 14 months queue apparently. Thank you very much . Swindon
a common occurence that happened to me when dealing with RMG is when someone first moves into one of their fleecehold managed homes, they screw up the first invoice somehow (for me it was that they sent it to my old address over a year after i'd moved into the new address (THE ONE THAT THE BILL IS FOR DUHH). No attempt to contact me at the new address or on my phone number or email, straight to their debt collection department and so the first i know about the invoice etc i have a huge bill with all the added legal fees... scum bags
Leasehold is how the former prince Chuck and now prince Willie make their money from the Duthchys. Plus they refused to sell them to the building owners. When willie becomes king his first born son will get it. And on and on.
@@bobjames6622 is try but they know all details and they will not tell you..is impossible to find out all details... unless you are working daily with these lease..
All homeowners are only tenants. Your mortgage only purchases the right to rent the property from the state thru council tax and to pass some of your investment on after inheritance taxes. You don’t own anything if the state can impose a charge then take the property off you for non-payment…
When people were 'buying' these leasehold flats, did solicitors not explain what the potential risks were? I mean, leasehold is a scam, but it hasn't suddenly changed - it's always been like this.
It’s just a way for the big developers to make money and pass the cost on. To think this is supposed to ease the housing crisis, it’s just a trick to further pummel people who can’t afford to buy a home outright.
I feel so sorry for the people caught in this situation. I expected Britain had better protections in place. It sounds as bad as the USA where the rich take advantage of every legal loophole.
Why would you move your young child (out of choice) into a roof-top flat above of a row of shops with no garden or safe space to play/explore/develop outside? I know this area. It's a developers haunt. St'Redford (Stretford), as it's colloqually known - is a working-class area with significant deprevation & crime. Making one corner of an area 'shiny' does not = a good investment (or thinking)! Igorant young people/professionals are a developers dream. There are way better options within a few miles radius of this area in terms of housing/education suitability, affordability & resale potential for this mother. Now look at the mess roof-top mother is in !! Entering onto the property-ladder without due-diligence, & blindly trusting an elitist system to be honest & fair towards you is madness. It is not fair (never was/will be) & your elitist-run government does not care about you, & lucrative property developers sure as sh*t don't care about you either. Educate yourself, or pay someone who knows better than you do - it's not enough to cry-wolf afterwards. Roof-top mother is still young. She can survive another housing transition. Her child will welcome, eventually thank her, & aclimate to pastures-new. Best thing she can do for herself & child now, is to sell her sinking investment, cut her losses 'quickly', get out, & start again. If the financial strain doesn't take this mother under, the stress, or combination thereof, will. I would get the hell out & never look back. Leasehold is one of the oldest scams in the book.
It’s just a way for the big developers to make money and pass the cost on. To think this is supposed to ease the housing crisis, it’s just a trick to further pummel people who can’t afford to buy a home outright.
Don't buy a leasehold property, Freehold is the best way.
Not always
@@staedlerok Yes, ALWAYS!
@@bobjames6622 nah. With freehold you can have major costs like roof repair and if you live in London a house is always far away from the centre. For me and my job it’s better a leasehold. It’s closer to my job and the company is taking care of everything, so when I will be back to Italy for my retirement I will just rent the apartment without worries about the roof leak and gas etc,
@@staedlerok And just WHO do you think also pays for ALL repairs under leasehold? That's right, the TENANTS! DUH!
Oh, and with rent, and leasehold you NEVER actually own the property.
@@staedlerokthis is such a dumb example
Leasehold is theft and can only occur in Britain.
The fellow who says it cannot 'just' be scrapped is quite right as too many vested interests own the freehold.
The most crazy aspects are exposed by the cladding.
Someone who 'owns' 25% of the flat is expected to pay 100% for the removal and restoration of the cladding.
Completely bonkers.
[Edit: It is no coincidence the UK is awash with scandal after scandal of which this is one.]
I agree that abolishing leasehold will not be fine overnight. What I don’t understand is why the government is not stopping the creation of new leaseholds. This is a simple thing to do. New flats should be built with commonhold as the default tenure.
@@celiapires8090You still pay stamp duty. It's an artificial churn in the economy designed by the government. We tax at point of transaction in the UK. You can also leverage the asset for borrowing which increases spend, again more churn, more tax. Why do you think we have these fixed rate periods too. Again artificial horizon that creates churn. You aren't a worker in the UK, you are the product.
Kudos to the BBC for covering the unfairness of this feudal system. Enough is enough. We need the government to deliver the leasehold and freehold bill NOW!!!
leasholders should have right to buy land ...Service charge should be done by local authority like borough to pay repair very basic things .I should pay not 200£ but 50£ a month .I don't see these money .I wish I could be paid for mowing grass 6000£ a year for a small parcel
It’s disgusting how the government doesn’t care for its British citizens.
Disgusting.
Never buy leasehold
In London, it is impossible not too if it is a flat.
@@lily_m3538 Don't buy in London - remove the idea/aspiration from the equation for young people completely. Offer them a reality-check & save them the sleepless nights. It's a fools game in L, unless you're an Oligarch. Any £ spent there lining landlord/developer pockets is dead/silly £ imo.
Both my kids moved there for a few years after graduating, for the experience, to make connections, to land good jobs. They did that, had a great time, made life-long friends, got themselves up the ladder a bit, realised the (significant) limitations/wasted £, then got the hell out.
It's okay as a temporary stop-gap, if you're young & having a bit of fun, but it's a financially crippling experience/commitment for many long-term. It makes zero financial sense.
One positive to come out of covid I guess, is that everyone now knows (including reluctant/archaic employers) that pretty much anyone can work from anywhere nowadays & take advantage of better housing options. When the demand drops, prices, in theory should drop, but it won't happen unless we stop selling every available living space to foreign investor's.
Take your time before diving in, try (rent, but briefly) before you buy, consider the options; there are more than you think, & never, ever buy leasehold, anywhere, but especially not in L !!
It's not bad when the leaseholders also own the freehold, which removes the incentive to fleece.
17k to extend the leasehold to sell 1 bedroom flat. 13 months later, just sent to the land registry. Another 14 months queue apparently. Thank you very much . Swindon
Fleecehold
The contract is there to read. UK tax payers should not be sorting this out.
a common occurence that happened to me when dealing with RMG is when someone first moves into one of their fleecehold managed homes, they screw up the first invoice somehow (for me it was that they sent it to my old address over a year after i'd moved into the new address (THE ONE THAT THE BILL IS FOR DUHH). No attempt to contact me at the new address or on my phone number or email, straight to their debt collection department and so the first i know about the invoice etc i have a huge bill with all the added legal fees... scum bags
Leasehold is how the former prince Chuck and now prince Willie make their money from the Duthchys. Plus they refused to sell them to the building owners. When willie becomes king his first born son will get it. And on and on.
Indeed it is. Exploitive and ironic when Willy is campaigning against homelessness.
Leasehold is a Long Term rental agreement. Truly ashame this is not explained to the buyers. It is a swindle if not explained.
Wrong! It's in the contract. If they cannot be bothered to educate themselves that's their problem.
@@allykhan8594 yeah thats it. It has nothing to do with ownership
Never ever buy a lease hold property
Can’t see it being abolished, why should the tax payer buy them out.
They shouldn't & it won't.
solicitors, agency all have and take money from this leasehold, nobody will tell you the try about the reality of the leasehold.
It's not their job to warn you. It's YOUR job to do your due diligence.
@@bobjames6622 is try but they know all details and they will not tell you..is impossible to find out all details... unless you are working daily with these lease..
Unfortunately, that's leasehold for you!! Need due diligence prior to buying property!!!
Agree with Wallace. The govt holds much of the blame
All homeowners are only tenants. Your mortgage only purchases the right to rent the property from the state thru council tax and to pass some of your investment on after inheritance taxes. You don’t own anything if the state can impose a charge then take the property off you for non-payment…
When people were 'buying' these leasehold flats, did solicitors not explain what the potential risks were? I mean, leasehold is a scam, but it hasn't suddenly changed - it's always been like this.
solicitors, agency all have and take money from this leasehold, nobody will tell you the try about the reality of the leasehold.
Facts it’s a big scam
@@pandav4843bought my council flat didn’t know service charge and ground rent existed until I received a bill via the post
I was asked to pay 5k a year as the previous leaseholders havent contributed enough!
You dknt choose the insurance, you dont choose the service providers, you just pay. Absolute scam
Biggest scam in history = leasehold
It’s just a way for the big developers to make money and pass the cost on. To think this is supposed to ease the housing crisis, it’s just a trick to further pummel people who can’t afford to buy a home outright.
I feel so sorry for the people caught in this situation. I expected Britain had better protections in place. It sounds as bad as the USA where the rich take advantage of every legal loophole.
Whatever the deposit she paid, for her and daughter just leave. They will get crushed.
This causes me serious distress. When one goes into leasehold, nobody tells you. 🥵🌻♥️🙏👨🏻🦼
Yes they do. You just couldn't be bothered to read the contract before signing.
@@bobjames6622 This.!!.
Due diligence. Pay someone for their expertise if you have to - way cheaper than the shock you'll get later.
Nothing will change. The thieves will bribethe politicians
I dont want to pay for a free upgrade of a leashold to a freehold to anyone that didnt know how to read a contract
A leasehold is not a form of ownership fullstop
I think he situation is a fiefdom.
And what nationality are the leaseholders?
I don’t think it is the East Europe’s people fault. Because it always is. Like some of you think 😂
They need to get a move on. To heck with the greedy landlords who own inherited leasehold land and buildings. No compensation.
Leasehold & share of Freehold All these properties is an option.
Fleechold . Service charge ground rent . Country going downhil
Fozzia is lovely. Nice job getting her crying, u happy now?
Yes you can abolish leasehold. Think like trump and break things. I hate trump but these leasehold rules are disgusting.
It's difficult to understand why anyone would take-on a leasehold agreement; subject as they are to such arbitrary charges.
Why would you move your young child (out of choice) into a roof-top flat above of a row of shops with no garden or safe space to play/explore/develop outside? I know this area. It's a developers haunt. St'Redford (Stretford), as it's colloqually known - is a working-class area with significant deprevation & crime. Making one corner of an area 'shiny' does not = a good investment (or thinking)!
Igorant young people/professionals are a developers dream. There are way better options within a few miles radius of this area in terms of housing/education suitability, affordability & resale potential for this mother.
Now look at the mess roof-top mother is in !!
Entering onto the property-ladder without due-diligence, & blindly trusting an elitist system to be honest & fair towards you is madness. It is not fair (never was/will be) & your elitist-run government does not care about you, & lucrative property developers sure as sh*t don't care about you either.
Educate yourself, or pay someone who knows better than you do - it's not enough to cry-wolf afterwards.
Roof-top mother is still young. She can survive another housing transition. Her child will welcome, eventually thank her, & aclimate to pastures-new. Best thing she can do for herself & child now, is to sell her sinking investment, cut her losses 'quickly', get out, & start again. If the financial strain doesn't take this mother under, the stress, or combination thereof, will.
I would get the hell out & never look back. Leasehold is one of the oldest scams in the book.
Disgusting.
Always passing the book, not on.♥️🌻🙏👨🏻🦼
education
muggles !
Who’s the presenter? Anastasia 🩷🌻🙏🇬🇧👨🏻🦼
It’s just a way for the big developers to make money and pass the cost on. To think this is supposed to ease the housing crisis, it’s just a trick to further pummel people who can’t afford to buy a home outright.