poppet2 Posted February 8, 2018 Author Share Posted February 8, 2018 You'll have to clarify this..Our first property was leasehold..we paid about £10 a year ground rent ..we were there for about 11 years and we got all the increase in the value of the property..how did that destroy my "long term savings"? How long was the lease on your first property when you bought it? Link to comment Share on other sites More sharing options...
truman Posted February 8, 2018 Share Posted February 8, 2018 How long was the lease on your first property when you bought it? About 900 years Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted February 8, 2018 Share Posted February 8, 2018 The law has not yet been changed, despite earlier posts! HMG is consulting; then there will be a Law Commission Report; then (probably) either a Green Paper or White Paper; then a Bill; then an Act. Link to comment Share on other sites More sharing options...
DC81 Posted February 8, 2018 Share Posted February 8, 2018 The law has not yet been changed, despite earlier posts! HMG is consulting; then there will be a Law Commission Report; then (probably) either a Green Paper or White Paper; then a Bill; then an Act. Sorry, I'm just going on articles I've been reading, some of them I've put links up to including the bill itself. I realise it's unlikely to pass at least in its current form but enough people are angry to the point it could affect votes and opinion now, no ? ---------- Post added 08-02-2018 at 18:05 ---------- You'll have to clarify this..Our first property was leasehold..we paid about £10 a year ground rent ..we were there for about 11 years and we got all the increase in the value of the property..how did that destroy my "long term savings"? I think it's a quote from the website, which is a leasehold action group. For whatever reason either new players or old decided they wanted far more money out of the business and have got greedy and underhand leaving some with unsellable homes / out of pocket into the tens of thousands. It's backfired for them a bit though as the national press have exposed the whole industry, and caused people to gather and seek change. It don't really affect those with "old style" leaseholds, other than if rules get changed there would be more protection for us in the event an unscrupulous company bought the freehold, and could mean a much lower price to buy the freehold via a better compulsory purchase sorta system. Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted February 8, 2018 Share Posted February 8, 2018 Sorry, I'm just going on articles I've been reading, some of them I've put links up to including the bill itself. I realise it's unlikely to pass at least in its current form but enough people are angry to the point it could affect votes and opinion now, no ? Not really. Leasehold tenure is not new. Link to comment Share on other sites More sharing options...
DC81 Posted February 8, 2018 Share Posted February 8, 2018 Not really. Leasehold tenure is not new. Must all be "fake news" I've been reading then. Fair one though, you're the expert and have probably seen many prior attempts fail in your career. I'll just wait it out for the next year or so and if nothing has changed by then go through LVT ! Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted February 12, 2018 Share Posted February 12, 2018 Must all be "fake news" I've been reading then. Fair one though, you're the expert and have probably seen many prior attempts fail in your career. I'll just wait it out for the next year or so and if nothing has changed by then go through LVT ! Well, "First Tier Tribunal" as it's now called. Link to comment Share on other sites More sharing options...
topflat29 Posted February 17, 2018 Share Posted February 17, 2018 Its not fake news . See what the Guardian Newspaper dated 21 Dec 2017 reported : https://www.theguardian.com/money/2017/dec/21/sajid-javid-promises-to-liberate-leaseholders-from-feudal-practices: Leaseholders are to be freed from “feudal practices” in the property market, according to the government minister responsible for housing, with new rules to make extending a lease or purchasing a freehold “much easier, faster and cheaper”. Guardian Today: the headlines, the analysis, the debate - sent direct to you Read more Sajid Javid, the communities secretary, also said the government would go ahead with a ban on leaseholds on new-build houses first announced in July, and will force developers to cut controversial ground rents to zero for all new apartments and houses. The government will also write to all developers that have sold homes with “onerous ground rent terms” to ask them to provide “necessary redress”. Taylor Woodrow has set aside £130m to assist leasehold buyers but other developers have steadfastly refused to pay any form of compensation. Javid said: “It’s unacceptable for homebuyers to be exploited through unnecessary leaseholds, unjustifiable charges and onerous ground rent terms. It’s clear from the overwhelming response from the public that real action is needed to end these feudal practices.” Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted February 18, 2018 Share Posted February 18, 2018 Whilst that is true so far as it goes, the law remains unchanged- and it will continue to be so until: a. the Law Commission has reported; b. HMG has considered the Report; c. [possibly] a Green Paper has been issued; d. a White Paper has been issued; e. a Bill has been prepared; f. the Bill passes through Parliament and receives Royal Assent; and g. the new Act comes into force. Link to comment Share on other sites More sharing options...
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