Leaseholding is theft of the worse kind ,never ever buy a leasehold property
@philwill0123
Жыл бұрын
Easier said than done not to buy a leasehold property
@lawrencebolt3540
Жыл бұрын
You guys mean a mortgage?
@AG-kb7yb
Жыл бұрын
@@philwill0123 Seems pretty straightforward
@trickygoose2
Жыл бұрын
It depends. I live in a maisonette with a 997 year lease, a peppercorn (I.e. zero) rent and no service charge. The only shared liability is the off-road parking area. As this is only used by the residents of 4 maisonettes it should be decades before it needs repairing.
@danieltownley7436
Жыл бұрын
Exactly! If you live in a leasehold property for a few years then you have a legal right to be able to extend the lease. I ended up making a lot of money on a leasehold flat. I bought the property with a fairly short lease at a reduced rate, then lived in it for a few years, then extended the lease as part of the selling process. I made a very significant profit.
@soundmattersuk
Жыл бұрын
Until recently, most leases were for 999 years, and very cheap, like £10/year. Peppercorn leases were literally the cost of a peppercorn, per year. Then about 20 years ago, someone had the idea of bumping it up, and here we are. It's been put to parliament a few times now, but parliament is full of landlords, so it goes nowhere.
@ardarricvannes5347
Жыл бұрын
Yeah we had one, had 925 years left on it and paid a couple of quid every 3 months. Bought it off them for 2k
@andykerr4180
Жыл бұрын
I think a lot of private equity investors got into cause it's a good eay to fleece people.
@laggytim
Жыл бұрын
You'd already said what I was about too. My parents G-manchester house was 2p a month. It's time to get rid of leasehold, when you buy a property the land is yours. House building system also needs sorting out too.
@carlstanton2550
Жыл бұрын
The Russian super rich bought their way into alot of them in London,and put the lease prices up a while back now. I'm not saying its just them,but a good majority of the properties I've worked in,that are leasehold,are owned by Russians (some are shady,mafia/crime involved,others are businessmen mainly involved in oil) it's a smart,albeit shady investment for them though.its a licence to print money really!! I never could understand why someone would pay all those fees for something they don't ultimately own.
@yellow1one
Жыл бұрын
Which is why I've only ever purchased flats built during the 1960s. 999-year leases and a share of the leasehold holding company. I would not touch a property with 99 year lease.
@robertwinslade3104
Жыл бұрын
Shocking that there isn't more outrage about this arrangement. So many aspects of how we do housing are only accepted because we've been doing it this way for so long
@whatsthatnow308
Жыл бұрын
Time has nothing to do with it, follow the money.
@purplemonkeydishwasher5269
Жыл бұрын
The thing is we haven't. Ground rent used to be an insignificant fee. Today its a way of fleecing home owners. Thr council rarely own the roads on these estastes, so like she says these service companies will charge you for anything they can think of. Often vastly inflated by using recursive charging all hidden behind shell companies, so there is f all you can do. Why anyone would buy lease hold houses is beyond me
@tomrado1687
Жыл бұрын
Robert, it's why I left, emigrated. See ya, UK. You've skinned me up enough over the last 20 years. In the EU now, waiting 3 more years for my Polish passport. No class system here bud.
@russellforster5843
Жыл бұрын
Yes We are saying the same thing here
@russelledwards001
Жыл бұрын
Just don’t buy a leasehold. Buy with a share of the freehold. Or don’t buy it.
@echoecho5244
Жыл бұрын
The Government should be thoroughly thoroughly ashamed, if not put in jail.
@martynsmith8120
Жыл бұрын
Sentence them to life in prison.
@LazzaRuss
Жыл бұрын
I'd never buy leasehold again. Monthly maintenance bill when nothing is done and bills for thousands without any warning when major works are done. Nightmare.
@theowhite
Жыл бұрын
Any option for a class action lawsuit against the management company for not using the service charge for proper maintenance?
@simonfrost7094
Жыл бұрын
Sounds like you're suffering from bad management, rather than a problem with the leasehold system itself. I don't have any complaints about my building. I was aware of the costs and the leaseholder agreement before I bought my home. The AGM of the management company is open to all tenants, the accounts are open to scrutiny, etc. There's also a statutory duty to inform all tenants whenever exceptional expenditure is required (e.g. To upgrade all windows in the building), which was executed in my case. Not all management companies are corrupt excuses for wringing out millions from their tenants.
@NCVV2000
Жыл бұрын
@@theowhite Yes Tads, service is charged for no service received. I contested this and the service charged ceased for a couple of years until the shared ownership company changed hands and decided that service charged is paid because of admin fees! Daylight robbery!!!
@theowhite
Жыл бұрын
@@NCVV2000 systematic daylight robbery! Props to you for contesting it though
@NCVV2000
Жыл бұрын
@@theowhite I'd love to find out what tenants pay when they have communal areas...I bet it's the same as what I pay but I need proof....I'm going to get back on this because the housing association pay nothing towards my repairs and only take my money for sending me an annual statement of my rent portion. In fact, I'm gonna request they start sending it by email then see what they say... We the people need to share our information more often because it's us against them and the shareholders who simply get paid for doing nothing while we have to work, pay taxes and STILL pay them.....the cheek! Looool, service charges isn't a lot to make noise about but it's a bleeding start! 😆
@videowatchr5565
Жыл бұрын
Rich get richer. Poor are treated poor. In 5 years our young won't afford a door
@marionpaterson772
Жыл бұрын
They can't afford to now
@well_i_liked_it
Жыл бұрын
Don't agree. Working from home is going to mean a crash in city property prices as office space is no longer being rented. People can live anywhere in the country instead of living and working in cities like London.
@videowatchr5565
Жыл бұрын
@@well_i_liked_it good. Prices are to high the commute price is criminal and its had a real term effect on mental health and work life balance. Offices normally have a 2 day in office policy and state you can continue to work 5 days in the office so the same space is used. Our head offices dedicated more space to chill was the only difference. My role I'm on the road and only go in once a week anyway. But I've noticed less traffic and peak is far more manageable.
@brandonleesanders
Жыл бұрын
Sounds like “I Can’t do it” garbage… What ever happened to the good old days where people had tenacity and a “go getter” attitude?
@markcooper741
Жыл бұрын
Just dont buy leased property. If you do you will get screwed and that is on ypu
@davewhite3629
10 ай бұрын
Thank you wonderful lady for exposing the corruption in democracy
@clovenbullet
Жыл бұрын
the only thing that trickles down is the bill
@Whateverpoopiepants
Жыл бұрын
And piss
@thomasaddis51
Жыл бұрын
@@idonotknowanynames blame the people that let it happen
@timontide6404
Жыл бұрын
@@idonotknowanynames The corporations and the government are controlled by the same people.
@TYFRYTYPHOON
Жыл бұрын
And the cladding as it melts.
@angelaphinn9929
Жыл бұрын
Leasehold property-holding should have been out-lawed a hundred years ago!! I very luckily and instinctively avoided leasehold properties when I bought my home, because I knew, otherwise, it meant that it would never actually mine. Even so, I've often thought that as my home was built sixty-five years before I was born and will probably be still standing one hundred years after I'm dead, could it ever really mine?
@kaidrazarc8000
Жыл бұрын
I did the same but still almost got screwed over They've now started moving away from lease holds & having new build houses with management fees built into deeds which are worse than leaseholds with far fewer protections & can up price without warning just cause
@jaguarpaw5639
Жыл бұрын
Her words hit home really hard. I’ve been looking to buy and leaseholds scare me even more now.
@johnross2924
Жыл бұрын
Same here, I want a apartment not a house. Problem is most apartments are lease hold and you can be paying £3000 a year service charges on top of your mortgage, it's a rip off 👹
@scienceevolves4417
4 ай бұрын
@@johnross2924don't pay then! If you think it's unfair then don't pay don't sign anything let them take you to court over it then. What's the freaking problem?!
@johnross2924
4 ай бұрын
@@scienceevolves4417 service charges and ground rent are a rip off. That's the frickin problem! 😉
@brianlopez8855
Жыл бұрын
with rent on top it sounds like the Shared Ownership scam which Housing Associations operate.
@AuditAmplifier
Жыл бұрын
"Yeah, you _are_ a tenant if you're a leaseholder..." GOLD...💯🎖🏆
@christinamiller868
Жыл бұрын
Feudalism was completely abolished in Scotland in 2004. Feu duties stopped in 1974.
@florida199
Жыл бұрын
The biggest scam that people live with.
@lynnecox6431
9 ай бұрын
Sounds like it
@anthonymiah3729
8 ай бұрын
People Live in … Make that clear
@scienceevolves4417
4 ай бұрын
No don't think so!
@andybarnard4575
Жыл бұрын
I had a leasehold flat and was led to believe by my MP at the time that the leasehold reform act of 1989 would help. It made things worse. Glad I emigrated and sold! They've been talking about reforming this system for well over a century and basically nothing has happened. Don't hold your breath!
@basfinnis
Жыл бұрын
They won't change the law. Some brave person tried to take them to court but you're up against the might of the Crown, Lords, earls and all the rest. Leaseholding should be gone, long gone.
@GR8APE69
Жыл бұрын
In that case, it's time to go French. They can't prevent change if they don't have their heads.
@phils6582
Жыл бұрын
Already gone in Scotland for 20+ years
@tellmemore8837
Жыл бұрын
@@GR8APE69 The British won't go French.
@adrianred236
Жыл бұрын
@@phils6582 Really? Tell me more. Still a problem with something like 80% of the land being owned by a handful of people I believe?
@alp8409
Жыл бұрын
There has been a change in the, the creation of shared freehold where the management company in owned and controlled by the flat leaseholders
@luciamarston8804
Жыл бұрын
If it's FLATS, you are sharing your ROOF, 3 of your WALLS and Your Floor... You CANT Own it. ❤️ Stop looking as though your sayng something CLEVER. 😂😅
@annaa6259
14 күн бұрын
The way she puts it so wisely together is mind blowing and eye openining
@robertwinslade3104
Жыл бұрын
More shorts like this please! Sums up the problem so succinctly and articulately!
@Koi-addict33
Жыл бұрын
She wrong on many levels
@petermonk117
Жыл бұрын
She's badly misinformed but she's right about there being injustices. She definitely needs to do a little more research to lend herself some credibility on this subject I'm sad to say.
@robertwinslade3104
Жыл бұрын
@@petermonk117 she has spent years researching the housing market and written an entire book on the subject. Not saying she can't be misinformed but she has definitely put in research time. What exactly is she getting wrong in your estimation?
@petermonk117
Жыл бұрын
@@robertwinslade3104 great question. I think that the way it's presented is misleading. In my opinion she seems to be making out that leaseholds are bad and implied that they shouldn't exist (my subjective opinion based on the short clip). So, if you have a block of flats and they are freehold, the top floor flats need to maintain the roof for everyone's protection and the ground floor have responsibility in order to keep the foundations serving the flats above in good order (a simplified scenario). It's difficult to force homeowners to carry out maintenance in this situation.... hence lenders are less keen on freehold flats. A leasehold flat however has an outside entity to ensure (in an ideal world) that all the appropriate management takes place and in a way will ensure appropriate maintenance to be undertaken. So, it's not that leaseholds are a bad thing in themselves it's bad leasehold agreements and bad management that are the problem. She seems to be arguing that leaseholds are bad (or giving that impression) when she should be arguing that bad leaseholds and bad leasehold management are bad. As she doesn't make this at all clear, that's what I believe she has got wrong. Hopefully that answers your question.
@lislelisle5453
Жыл бұрын
Love this woman!
@taidhg27
Жыл бұрын
Finally people are peaking on this corrupt scam
@davedave4986
Жыл бұрын
And if the rich, royalty, etc knew all the peasants had machine guns, flame throwers, etc, would it affect their attitudes? Yes, most definitely. How do the rich ENFORCE their oppression?🤔 Coward sheep disagree and stay poor, in chains. smh
@IntrigueJunkie
Жыл бұрын
My first flat was a leasehold, and was bitten by my own naivety, unscrupulous sellers, disinterested conveyancers, deal hungry agents and caveat emptor. At no point did anyone mention that the part converted loft was not permitted in the lease, nor that the freeholder had never been made aware. Thinking I was going to extend the lease by the statutory available for maybe £10k, I had to also pay for the lease amended, and a fee for breach of lease, tort of trespass, plus their (freeholder) surveyor and legal fees, in total over £40K. Without an amended or extended lease, it was unsellable. The freeholder made £40k for doing nothing, nothing. Try explaining to a mortgage provider why you've just taken out a huge loan....
@Elhock
Жыл бұрын
she is spot on.
@adrianred236
Жыл бұрын
And there were any amount of people in this situation who will be out fawning over King Charles and the coronation.
@PrivateWalker
Жыл бұрын
This young lady's intellect is seriously impressive & we need people like her in power
@davidmorris5039
Жыл бұрын
The lesson here is don't be stupid enough to lease anything. A mortgage is ridiculous enough but a lease is straight up a terrible idea! At least once my mortgage is paid, the property is mine including the land it's on. And with rent you can walk away whenever you want, no strings.
@davidthomas9165
Жыл бұрын
Unfortunately, lots of people don't really have a choice because the first time buyers in large cities like London and Manchester that want or need to live close enough to commute into their work typically can only afford flats and the vast vast majority of flats are leasehold.
@scienceevolves4417
4 ай бұрын
Why is it terrible? I'm renting, I've got a lease (tenancy) contract.
@theonlyatubaintown4197
Жыл бұрын
Aw proud of herself, bringing another unrequired antagonistic fight into 2023, modern feudalism. Great work hen!
@Tipperary_man
Жыл бұрын
Back in the 1980’s a couple I knew, I still know the woman bought an apartment on a 999 yr lease. Happy days they thought with £50 p/year ground rent for the lease. Sadly the husband died after a few yrs and ground rent was missed for 3 yrs. not a big deal right! Wrong, there was a clause if ground rent was missed for 3 consecutive yrs the property reverted automatically to the leaseholder, and it did! No matter what was said or done neither the lease holder or Court would assist. Not only did my friend loose her partner but she was made homeless and still owed the mortgage. Within days of court evicting my friend the property was up for sale and sold for a massive (stolen) profit for leaseholder. She declared bankrupt and consequently was not able to buy a property for 14 yrs. Modern Britain thanks to Maggie (the milk snatcher Thatcher.
@Malky5279
Жыл бұрын
Oh my word that is sickening
@jimduffy1967
Жыл бұрын
Exactly thatchers , Tory Britain.
@marionpaterson772
Жыл бұрын
That's horrendous
@videowatchr5565
Жыл бұрын
When you sell. People are advised to have 80 years plus as costs spiral to renew....think 15k. Just to renew a basic document on a property you should own by right.
@alastairwallace6153
Жыл бұрын
Horrible, really feel for your friend... you should name and shame the leaseholder
@fredhawkey380
Жыл бұрын
Just like everything in life - an absolute scam!
@salehothman449
Жыл бұрын
My late wife was a lawyer, from the very first week's of her practice she came out strongly against leasehold properties, she always believed that the field needs adjustment!
@heidismith8970
Жыл бұрын
My Freeholder took me to court without my knowledge and took my flat off me by law. White collar crime. My whole life savings tarn of me by the freeholder and the courts.
@SP-nh1kz
Жыл бұрын
Scotland does not have leaseholds. England keeps voting for parties that keep them poor and will never change the system to help the little man. Scotland needs independence so we can also have full PR and rid ourselves of the unelected house of Lords and the English monarchy.
@Matelot123
Жыл бұрын
I bought a former council flat in Glasgow that and I had to pay a factor which is kinda the same thing. When they decided to upgrade the lighting and do something to the outside of the building, all the owners had to pay but the tenants did not have to pay.
@funkyfranx
Жыл бұрын
My God. Typical 21st century unaware Scotsman, no knowledge on how parliament works other than KZitem comments
@SP-nh1kz
Жыл бұрын
@@Matelot123 Factors are just administrators for communal repairs and buildings insurance. You pay a quarterly management fee to the factor, usually around £30. It takes away the stress of trying to track down all owners in a building to get money for communal repairs yourself. You buy English leasehold property you need to rent the land from the freeholder, regardless of whether you own your property outright or not - its money for nothing for the freeholder and can cost thousands and thousands of pounds to extend the leasehold, so greatly reduces the value of your property if the leasehold is running out. The two systems are not remotely comparable.
@SP-nh1kz
Жыл бұрын
@Vote4Penny Scottish people are sovereign, not old Charlie sausage fingers. Soon as we're independence we'll be a Republic.
@markysgeeklab8783
Жыл бұрын
@vote4penny940 they may have come from Scotland, but they are very English. Just like a man who's parents moved to Scotland from India before he was born is 100% scottish
@SaveManWoman
10 ай бұрын
Lease is a beggars last resort. They have 💯% responsibility of anything going wrong and yet all profits and proceed goes to owner of. Things were meant to be for all mankind. French came out with this BS.
@RusBoh1
Жыл бұрын
That's the hard truth about today's business. Like robots, just profit what is needed.
@ahmd-mi9964
Жыл бұрын
She's so right, that's why Scotland has much better system.
@mohamedshiekh635
10 ай бұрын
And they thought slavery was finished.
@fUCkyOUbL0WM3
Жыл бұрын
Corbyn wanted to change it and you saw how angry the country got with him.
@AGMundy
Жыл бұрын
Absolutely agree. Leasehold without the freehold included is merely paying rent in advance. Freehold - ground rent is a complete rip-off. Money for nothing and of ourse as the leasehokde you are expected to pay all repair bills etc whereas as a renter you wouldn't.
@jackclayton821
Жыл бұрын
My brother in law has this in is flat on Gypsy Hill, he’s”owns” the flat, nice place by the way, pays £12000 a year in various charges AND has to pay multiple Thousands every 4 years (whether it needs it or not) for the whole place to be painted and for a survey and any roof repairs. For years he’s rejected the paining cost (which it 2 to 3 time you could get it done privately (note at end) and hired the scaffolding himself, prepped and painted it himself, small fraction of the cost a lease holding contractor would charge. They didn’t agree until he cited his owner’s rights in the contract. Now he’s startled a joint limited company with his neighbors to take on all maintenance. The thing you have to understand, many of these large multi dwellings were bought up decades or even centuries ago by rich landowners and families, they do nothing now but fleece the people who buy into the lease hold. It’s a really shit part of London property scandal, and the government does next to nothing about it, because let’s face it, most of the people in government are, or are good friends with… yes, those landlords. Shocking
@anetawisniewska7080
Жыл бұрын
Yeah I never heard about this until I came to UK. This is totally fucked up .....fact that British people don't protest about this is just mind blowing. Additionally the sizing of the new houses its fucked up. They sell three bedrooms house which has 65 square meters lol
@aieshaoliver
11 ай бұрын
Basically, slumlords. Double charging, owning the land and building is something different. Registered or existing tenent. Ten foots...
@kaidrazarc8000
Жыл бұрын
Even better is fleece holds where you gotta pay a management fee for the public areas fields, parks, sewage, roads etc the stuff the council tax is supposed to pay for because the council refuses to accept responsibility but will still demand their full council tax for the work they are refusing to do Oh & if you dont pay they get your new build house
@leftykeys6944
Жыл бұрын
Good grief... service charge for services not rendered. Swell.
@LP-qz9ky
7 ай бұрын
It's such a scam! How does Britain in 2024 still have this system
@jscrproductions
Жыл бұрын
💯 always go with a freehold if you can.
@thomascorley8232
9 ай бұрын
The UK is a on a collision course with a new revolution, the hardest working of us pay the most taxes, and with outdated systems like this destroying the housing market some thing is going to snap soon
@stephenkhan454
Жыл бұрын
well said sister , thank you
@markdraycott3974
Жыл бұрын
Simple, don’t by a leasehold, you have free will, use it.
@TheGinglymus
Жыл бұрын
Finally someone is saying this! I thought I was mad
@inputimmersion9577
Жыл бұрын
Our first home was freehold and the deeds said 'anything of value in or on the land defined within the boundary remains the property of the local authority'. We own nothing.
@liammurphy2725
Жыл бұрын
She sounds like Prince Charles. The Landlord that keeps on taking.
@aaaq77
8 ай бұрын
This scam of leases needs to stop
@TheNicoliyah
Жыл бұрын
Spot on, I think they are talking about shared ownership leaseholders. As if they are just leaseholders rent would not be added
@hareecionelson5875
Жыл бұрын
no, they can do that too
@juzzlookin
Жыл бұрын
SO WHAT D'YOU THINK RATES ARE?
@TheNicoliyah
Жыл бұрын
@@hareecionelson5875 Oh yeah of course, that would be ground rent
@sr13449
Жыл бұрын
Interest hides a horrible secret. As they say you can never really own a property in this country.
@ethelmini
Жыл бұрын
Paying rent is a condition of all leasehold. It might be as little as a penny a year, but it's still rent. You only pay rent on something you don't own.
@oliverbird6914
Жыл бұрын
Which in effect is everything
@safarigirl40
Жыл бұрын
Plus the long list of do's and don'ts that make you feel like you are beholden to the landlord who can take the apartment back if you breach them.
@davidhoughton779
Жыл бұрын
Should be illegal
@shaneflemingre
Жыл бұрын
This is an example of a total lack of understanding.
@petermonk117
Жыл бұрын
Sadly this is not the whole storey. There's a very good case for having a leasehold (or similar) when you have a flat. A management company to run the affairs of the leaseholders is also advisable HOWEVER, the real problem(s) appears to be with regards to the lack of appropriate legislation (or lack of enforcement) in order to protect leaseholders against bad practices. I'm a surveyor and if I was buying a flat, I would want a leasehold and not a freehold but would be carefully scrutinising the leasehold and management arrangements. There's plenty wrong with the system in this country at the moment but we should be even handed and look at the protections that the current system offers and keep them. Where leaseholders are being served badly, legislation should be considered to stop injustices.
@Lifelongloser
Жыл бұрын
Excellent post
@petermonk117
Жыл бұрын
@@Lifelongloser Thanks for your kind comment!
@martinsmith3354
11 ай бұрын
Freehold don't own theirs either.... Compulsory Purchase.
@mcollingwood6356
Жыл бұрын
When entering into a leasehold, thoroughly check the agreement that there's no surprises. If the lease has been extended "informally" they will try to sneak things in, with mine they wanted the ground rent to double or quadruple each year meaning after 25 years it would be over £100,000 or something equally ridiculous, thus making the property unsellable and guaranteed bankruptcy. Live in the property for 2 years to gain the right to extend it formally and it goes to a peppercorn rate and they can't try to screw you over. Still costs more than ten grand just to do that though
@sihaandhaha8460
Жыл бұрын
Never ever get a leasehold property. Ever!
@fulltimeonfire8536
Жыл бұрын
I mean... if we take this all the way back to the source then it's CAPITALISM, HEIRACHY and MONARCHY that are the problem. I suggest we abolish all 3 for a brighter future for everyone (bar the rich, they've had their fill)
@videowatchr5565
Жыл бұрын
Capitalism isn't the problem. Its capitalist greed. Chasing big numbers NOW NOW NOW. doesn't provide long term sustainable growth. And when you jump 10% in sales let's say. Next year its 12% they want. So now it's harder to make same profits so to make up they don't give you the adequate pay rise and inflation passes you by. Now you are in debt as the cost of goods go up but real term wages are down. And the cycle continues. This is what's brought this country to its knees. Greed by those with the most.
@infinity4evr
Жыл бұрын
Capitalism is never the problem. It’s corruption that’s the problem. And that exists no matter the system.
@fulltimeonfire8536
Жыл бұрын
@@infinity4evr said like a true bootlicker
@consolo4870
Жыл бұрын
You're correct in your diagnosis but your solution is ridiculous.
@stuartannetts300
Жыл бұрын
So if someone started a business from nothing and makes money from it, they've got to go have they? I can certainly see things are out of balance at the moment but I'm not sure what you're proposing is the solution.
@craigo2656
Жыл бұрын
It's really simple, do not buy leasehold. You can't complain if you knowingly buy leasehold. No one is forcing you to.
@YA-hm5zy
Жыл бұрын
why would anyone buy a leasehold property?
@basfinnis
Жыл бұрын
A lot of property in the UK is flats and the majority leasehold. If you can afford a house and have the freehold then good. But most new build flats are leasehold.
@theowhite
Жыл бұрын
The only properties on the market I can (barely) afford are leasehold, and I'm thinking it's better than renting... except I'm worried about my liability of anything goes wrong costing thousands
@Xestra37490
Жыл бұрын
She’s absolutely correct 👍🏼
@tooyoungtobeold8756
Жыл бұрын
Its not always like that. I bought a leasehold Maisonette (a flat with its own entrance and garden), a 1000 year lease, a peppercorn rent of £1 a month and no service charge..
@frankiefourfingers6717
Жыл бұрын
That’s why I always buy the property outright- no mortgage and no leases
@captango
Жыл бұрын
Quater of a million to manage two small tower blocks by the owners so called management company . New double glazing fitted to both with contract given to a silent partners company.
@melaniedawn4256
Жыл бұрын
Ok, who enters into these sorts of agreements???
@Gray597
Жыл бұрын
There’s another shocking dimension to this for leaseholders in council-owned properties. As a leaseholder you must pay your share of any major works carried out by the council, regardless of the sum apportioned to you. This can mean being sprung with a bill of any amount - up to £50K, £60K even £98,000 in one London case. Often these people are ex-council tenants of modest means who bought their properties via Right To Buy and simply cannot dig deep enough - they face bankruptcy and losing their home. It’s yet one more way in which Right to Buy has screwed over working class people. The Left could stand to talk about this more too.
@sufmeister786
Жыл бұрын
There is no left. Starmer is also in line with the same values as the Tories. Check out DDN who recently did a video on how both main opposition parties are working together on the same agenda and working for the British American Project. We are classed as the 51st state owned by the USA which is why we always follow their policies and way of life. We are just a mini version of the USA.
@jujutrini8412
Жыл бұрын
And it seems to me that councils do unnecessary work every few years just to fleece people, either the council tax payers or the leaseholders! It’s like they have to spend a certain amount of money within a certain timeframe so they find stuff to spend it on in regards properties. Of course the council could use that very same money to pay for carers or retirement homes or meals on wheels etc but they do not choose to do so.
@Gray597
Жыл бұрын
@@sufmeister786 That DDN video is great. Agree. I’m not sure the British capitalist class needs the USA to tell it to be as rapacious and grasping as possible though. It’s always been pretty good at that historically.
@Gray597
Жыл бұрын
@@jujutrini8412 That may be true. And there certainly seems to be a revolving door between councils and developers - there are a good few councillors in London who have ended up working for Lendlease and other developers. Make of that what you will. But part of the problem is that councils are legally obliged to carry out major works to meet health and safety legislation (lots of fire safety stuff post Grendel of course) and there is no pool of money to support leaseholders when they do so. Hence every now and then some poor bastard is slapped with a bill worth half the value of their flat.
@gug1970
Жыл бұрын
How is this a fault of "right to buy" ? - so because of greedy corrupt councils people are not allowed to buy their houses (which are not affected by this )? - This is only flats and they've always been like this - or should everyone else be forced to fix your roof/common areas ? - So left wing council rips you off and that somehow is Thatchers fault ?
@aiwaiwou3556
Жыл бұрын
I never understood why would anyone buy a leasehold property. I see it as a scam too. When I tried to explain how that works to someone who doesn't live in UK, they didn't believe me
@ethelmini
Жыл бұрын
It's genius really. You buy the right to be a tenant, but only for so long. Ultimately you own nothing, but you've tied yourself to the property by your debt/investment in those magic beans. It's how we do things in this country. You can be your own tenant. If you have a flat in a converted house, a common way of setting that up is that you'll own a share of the freehold in partnership with the other flat owners, but then you are all leaseholder tenants of that partnership. See also chancellery.
@sandydobbie1255
Жыл бұрын
It’s a fecking con and I bet the Tories own most of these properties !!!
@aglaesaitschenko2349
Жыл бұрын
Of course, you're not obligated to sign on the dotted line. It's only feudalism if you don't have a choice. You don't have to buy the house under those terms. The seller can just sit on his unsold house and pay taxes on it.
@Abshir1it1is
Жыл бұрын
What nonsense is this? Serf and a peasant aren't the same, sure. One is stuck on their property and obligated to work it, the other can leave for greener pastures (assuming they can find any). But both still live under feudalism.
@Geokinkladze
10 ай бұрын
In the UK you are a tenant whether you have freehold or leasehold. All the freehold does is allow you to lease it to someone else. Ultimately the property is owned by the crown.
@catherinemartin6258
Жыл бұрын
It’s a piss take
@paxtontom79
Жыл бұрын
I had an apartment and the service charge went from £180 a month to £286 a month. They blamed it on electricity going up and we're told to trebble the estimate. All the electricity sorts is the internal and external lights. They claimed the yearly cost for this was £6000. £6k for an internal light that only turned on when 4 residents stepped outside their apartment? Absolutely joke. They should have had light sensors anyway so they only came on when dusk/night. I sold, moved to a house and now have surplus money a month. Will never buy an apartment ever again
@tux1968
Жыл бұрын
Nobody is forced to take a lease. Don't make stupid deals, problem solved.
@insight2749
Жыл бұрын
Do some research on how many flats and apartments are leasehold- near impossible to find a freehold on a first time buyers budget - particularly in competitive cities
@tux1968
Жыл бұрын
@@insight2749 If nobody takes those deals, then landlords will be forced to make better deals. If people continue to make stupid deals for themselves, they have nobody to blame but themselves for the fact that it becomes common.
@karenrogers9034
11 ай бұрын
I was gonna do this 30 yrs ago when I calculated it all it was cheaper to Buy a freehold House ,You should be allowed to borrow what you can afforded to pay for rent
@MsTAMILIAN
Жыл бұрын
Naive young people are always after flats and they think it is cool. How stupid?
@johne7100
Жыл бұрын
Good old Britain, leading the world as usual.
@eh2254
9 ай бұрын
My god, you hosers are getting hosed! Bad enough here, but wow 😯
@commentsection6460
Жыл бұрын
This conversation is so complicated for us here in America you know. Lol 😊
@kaymish6178
11 ай бұрын
I lived in a leasehold house, but the church was the leasor. It was so much suck, but we had no where else to go.
@weepingangel6805
10 ай бұрын
If you’re a leaseholder then you’re either too rich to care, or you’re a fool.
@Captn_Slow
Жыл бұрын
Service charge in some of the developments are increasing in an incredible rate that if it keeps increasing at that rate, very soon monthly service charge will be even more than the monthly mortgage payment.
@marcoscabrinirianidosreis6655
3 ай бұрын
Its shocking, I’m considering leaving England in the future if I can’t afford to buy a free hold house, I love apartments, but I can’t pay for something that I won’t be the owner
@JimKJeffries
Жыл бұрын
The US recreated feudalism through county government. The county owns everything, including the people's freedoms. The county own land, not people, the county can take your personal property for any reason, the county controls your vote, the county controls your traveling. Since the county is viewed to be sovereign under the king, immune to state and federal law: the constitution & our freedom is dead.
@stephenphillips7699
Жыл бұрын
£500.000 to buy an house, build 3 for that price.
@onlythetruth-wi6nh
Жыл бұрын
She just blow my mind I hope that this goes out every where so they don't make that mistake god why has this never been told to the masses school are a joke
@robhughes645
Жыл бұрын
I find this the most bizarre arrangement in the world. But the entire property transaction process is a mess in the UK, a verbal offer is in play until the day of exchange, a verbal offer for the most amount of money anyone will spend in their lives. But it's 15 pages of legal rigmarole to buy a mobile phone contact for £20 a month. A global disgrace
@bobhob35
Жыл бұрын
And this is why I bought an old freehold semi built in the seventies with my wife. I got laughed at by friends and colleagues but I’d rather own it completely outright 😊
@chrismckenna5845
Жыл бұрын
Yep remember these from time in the uk- such an absolute scam
@elvisperezley9244
Жыл бұрын
Yep. The land tenience in britain almost never changed. This is one of the reasons people migrated to the colonies, to get once and for all, a real piece of land of their own.
@davidoconnell2057
Жыл бұрын
Never buy a leasehold. All leaseholds should be converted automatically
@TheTimelord62
Жыл бұрын
This is only in England. I don't know about wales. But this was all stopped in scotland years ago. This is why the people at the top are always at the top. Sone are pulling in millions every year with this. The royal family makes millions like this. Thats what a duchy is. So when you hear about the duchy of Lancaster, or Devon or any other. Thats all money the royal family makes out with the taxpayers money given to them.
"It's still feudalism". Ironic the royal family is leasing a significant amount of land throughout the country
@mharris7380
11 ай бұрын
That's shared ownership in a nutshell. Also, you can't change the plants in the garden without permission, you can't run any kind of business from the property, you can't have use of the attic. You are responsible for all repairs, including upkeep of solar panels, which cost more to maintain than you get back for what you export to the grid.
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