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Joined: Mar 2019
Posts: 386
Old Hand
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OP
Old Hand
Joined: Mar 2019
Posts: 386 |
Supertramp The Logical Song.
Morning.
Reading the News regarding the Leasehold Bill that all New builds of ground rent can only be paid with Peppercorn thoe its good News i believe Not gone far enough. A lot of people bought houses wear ground rent was low only to find out later there leasehold was sold and now Bill is in the thousand`s and rising.The Bill Should definitely included the Old as well as the New even if Home owner`s try and buy leasehold the Landlord ask for a huge amount as they wish to carry on milking the home owners of everything they can and keep there money flowing in ?
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Joined: Oct 2013
Posts: 1,630
Forum Addict
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Forum Addict
Joined: Oct 2013
Posts: 1,630 |
I understand flats being leasehold but If you buy a house it should always be freehold.
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Joined: Jul 2008
Posts: 14,478 Likes: 31
Wiki Master
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Wiki Master
Joined: Jul 2008
Posts: 14,478 Likes: 31 |
The amount ground rent can go up is stated in the lease, only if the lease runs out can it change differently, it should not change because the land has been sold on.
If the lease hasn't run out then the terms of the lease can't be changed without agreement provided you are not in arrears.
Its well worth reading the terms of your lease if you think something has gone wrong.
When you buy a property the solicitor should specially highlight the terms of the leasehold and advise you if he thinks the terms are unreasonable.
We don't do charity in Germany, we pay taxes. Charity is a failure of governments' responsibilities - Henning Wehn https://ddue.uk
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Joined: Jun 2010
Posts: 250
Addict
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Addict
Joined: Jun 2010
Posts: 250 |
BA I thought it was the Freehold that was sold by the property developers, then when the buyers wanted to sell their house they found that they had to buy the Freehold back but often it was far too expensive! I remember reading an article to state that the Government were dealing with this matter!
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Joined: Mar 2019
Posts: 386
Old Hand
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OP
Old Hand
Joined: Mar 2019
Posts: 386 |
John Lennon Happy Xmas.
Morning.
You could be right was looking into buying a Freehold Pub unfortunately the majority of them had the ground on a lease. I always thought it was bad as got nothing in return for rent as was going to Change it to residential with Winter`s getting warmer.
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