'Ouses, Greenbelt and stuff
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I mean, given everyone likes to criticise my own lifestyle and complaints because I’ve chosen to live here etc, I’m surprised you don’t have the same attitude to people retiring in properties with leaseholds but anyway.
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There has been talk of abolishing leasehold for some time. Service charge hiking seems to be particularly an issue with some of the redevelopment of former social housing estates. Much like doing f*** all about defective cladding.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
That's pretty much how leasehold flats work.
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That's not what you get criticised for. You get criticised for the blanket statements and inability to put yourself in anyone else's shoes while self emtitledly moaning about your own lot.
I do have sympathy for people caught out by this issue. Can they really have been expected to predict 400% increases as well as the generational rise in interest rates?
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That's how it worked here when I bought my maisonette.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
The sharing of maintenance costs is not the issue. It's the freeholders and their management companies exploiting the terms of the lease to gouge leaseholders with no regulation. Share of freehold is fairly common for large house to flats conversions but when you have tens of leaseholders that's a lot more difficult to coordinate.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
My very limited understanding is the leasehold is there is a third party who charges ground rent?
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Provided there isn't a crook involved along the way there isn't much difference between a share of freehold and someone else owning it. The main issue is that maintenance isn't cheap.
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Insurance seems to be the biggest issue in this instance. Insurance in general has gone up massively but I suspect the issues coming out of Grenfell have had a huge impact on apartment blocks. I doubt having shared freehold is any better than leasehold on that front.
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It's usually tiny. The main charge is for maintenance.
Some developers have included large ground rent payments in the leases recently which is something that has been in the news and the government is looking to do something about.
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Which is why I would/did avoid leaseholds.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
Doesn't your own OP on the subject answer your question?
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
The point is that it doesn't matter who owns the freehold.
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They maintain ownership so that they can charge excessive service charges?
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
The service charges are not linked to ownership.
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It isn't.
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Then please explain this for the hard of thinking.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
Which bit? Service charges pay costs.
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Sounds like insurance went up massively and hadn’t got picked up.
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I'd be looking for a breakdown of costs for £646/month. Seems excessive to me.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
They will be provided.
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Whatever. Someone's taking the wee-wee.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
Not read the article, but if a roof needs replacing or something similar, and there isn't a sink fund then you might understand the increase.
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One snippet from the report that you haven't read.
"He says he’s put in several complaints and Freedom of Information requests to try to get a breakdown explaining in detail what he has been charged for, and adds that he and his neighbours have been asking to see invoices for five years but haven’t been given them."
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
That's not good. Does sound like a dodgy management company.
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It requires a dodgy/incompetent management company, and even then they need to work out how to receive kick backs and then pass them on to the freeholder if the freeholder is supposedly going to benefit as well.
It's also reasonably easy for residents to bring in a new management company. Usually, when this happens residents find out they weren't being fleeced after all. It's just more expensive to run a block of flats than they thought when they bought it.
No idea how it is supposed to work with shared ownership as per the BBC article.
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