Persimmon property

beemerbenzorbentley

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kingstreet

They may not be able to do so.

I purchased a property in 1988 where the land was owned by the Baroness Sefton.

A 999 year lease is the next best after freehold, provided the ground rent and service charges aren't onerous.

beemerbenzorbentley

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kingstreet

Your solicitor needs to scrutinise the lease to ensure there is nothing untoward.

Fancy living in Mayfair? It's all leasehold, freeholds owned by the Duke of Westminster...!

Pete9501

beemerbenzorbentley wrote: »

Thanks for the reply.

The ground rent is listed as £120 per annum.
And there is also a maintenance charge of £100 per annum to cut the grass of some green area on the estate.

That's all I know of, so far.

So far :eek: How big is the estate? who owns the roads and who pays for the maintenance, electricity for street lights, water supply privately owned perhaps? and so it goes on.

Find out quick!

ReadingTim

OP - do you hope to live to be over one thousand years old? Because unless you do, you'll be long gone before the length of the lease becomes a problem!

Secondly, given you're making the biggest single purchase of your life, didn't you think it might be a good idea to research what you were buying before you're committed to it? Persimmon haven't mis-sold anything - you've simply mis-bought...

ethank

A 999 lease is a virtual freehold. The issues that many have with leases generally do not happen with leaseholds of this length such as it falling under 80 years and marriage value. There may be reasons why they cannot sell a freehold such as they only have a long lease on the land themselves.

beemerbenzorbentley

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Contessa

Many years ago we bought a newbuild house which was leasehold and not unusual in the area. It was a small annual payment but we wanted to buy the freehold as soon as possible.

At the time I think we had to wait for three years but we did purchase the freehold and have made a "profit" over several years.

This wasn't the reason we did it-we just weren't used to the idea of owning the house but not the land.

I presume that you might be able to do something similar in time?

Enjoy your new home.

orionmoo

I'm struggling to believe that a persimmon home can be nicer than others. Persimmon are like the budget of new build homes. Bog standard 2 up 2 down, everyone gets one parking space, no front garden and a small piece of overlooked turf at the back, crammed into very tight roads that end up being double parked and sometimes no pavement.
Just got out of a rented persimmon house and so glad. the estate I'm on now is having a new build part of it go up by persimmon at the moment and what's completed looks exactly the same..

beemerbenzorbentley

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