Bovis Homes Shambles

Tax_Slave

Just had the strangest conversation with a Bovis onsite sales office ever.
I called the number for the site office.
Person announced themselves ...blah blah
I told them I was interested in the development and had some questions abou the detached 4 bedroom houses.
Q1 - Can you confirm the houses are Freehold ?
A: That's not something I would know , you need to call head office.
Q2:- Can you indicate when plot number 'xx' will be released ?
A: Its at end of phase 2.
Q2: And end of phase 2 is ?
A: Don t know
Q3: ok and easy one then ..... what options are available for kitchen work tops ?
A: I'm not sure

Errrr Well that filled me with confidence as a potential customer.

maybe the cleaner answered the phone or someone dropping off the post lol

bruich76

Seems a tad harsh to lampoon a company for actions concerning one member of staff. Afterall, I don't think Bovis themselves would be that happy if they knew that he or she was responding to your enquiries in such a way.

Tax_Slave

bruich76 wrote: »

Seems a tad harsh to lampoon a company for actions concerning one member of staff. Afterall, I don't think Bovis themselves would be that happy if they knew that he or she was responding to your enquiries in such a way.

My thought at end of conversation was ;
What would it be like if I purchased a house on that development and had an issue ?

At the moment as a sold house and will be a cash buyer, I'm feeling nervous doing business with them.
With all the bad press recently about houses being sold as leasehold , I would have presumed it was a question they would have primed the sales staff to answer. But it seems alas no.
Maybe they are leasehold and they don't want the sales staff to admit it . That could be it you know

SuzieSue

Tax_Slave wrote: »

Maybe they are leasehold and they don't want the sales staff to admit it . That could be it you know

Yes probably. They want to reel you in and then hope you will not mind them being leasehold.

Tax_Slave

SuzieSue wrote: »

Yes probably. They want to reel you in and then hope you will not mind them being leasehold.

Just called Bovis regional office and after 3 minutes they answered phone. I explained my query and they called their sales people.
Person then said it's best to ask site sales office when someone else is in.

I smell a rat.

Shame really because it looks like a nice development and fits our needs. But no way in a million years would I buy leasehold for a detached house. Flats I fully understand are leasehold.
You own house , but not land it sits on ?
As a home owner since 1988 all property I have purchased has always been freehold. Even the 2 up 2 down first home we bought in London.
Well 3 up with bathroom.

bruich76

Tax_Slave wrote: »

Just called Bovis regional office and after 3 minutes they answered phone. I explained my query and they called their sales people.
Person then said it's best to ask site sales office when someone else is in.

I smell a rat.

Shame really because it looks like a nice development and fits our needs. But no way in a million years would I buy leasehold for a detached house. Flats I fully understand are leasehold.
You own house , but not land it sits on ?
As a home owner since 1988 all property I have purchased has always been freehold. Even the 2 up 2 down first home we bought in London.
Well 3 up with bathroom.

You can have a lease of the garden included as well if its leasehold. It doesn't just have to include the property. The only difference being that after 99 years or whatever the developer gets the house back unless you can agree terms on a new lease (which will of course cost more money).

Typhoon2000

My house is lease hold, but the ground rent is zero, the lease is long, and the freehold purchase calculator estimates the cost to purchase the freehold is peanuts due to the low( zero) ground rent ( I have owned it for over 2 years). There is a contribution to pay to upkeep of the common parts, security and lighting but that's understandable. So all leashold houses don't have to be bad news.

bruich76

Typhoon2000 wrote: »

My house is lease hold, but the ground rent is zero, the lease is long, and the freehold purchase calculator estimates the cost to purchase the freehold is peanuts due to the low( zero) ground rent ( I have owned it for over 2 years). There is a contribution to pay to upkeep of the common parts, security and lighting but that's understandable. So all leashold houses don't have to be bad news.

This. You will find that even if you are buying a freehold new build house that it will have a responsibility to pay for the cost of maintaining the common areas anyway.

Tax_Slave

bruich76 wrote: »

This. You will find that even if you are buying a freehold new build house that it will have a responsibility to pay for the cost of maintaining the common areas anyway.

Yes I accept the fees for common area maintenance.
So ok if the leasehold is 999 years and let's say the rent rent is £1 a year for 999 years. Then why not just sell the house as Freehold ?

Sorry to sound novice about this , but that's because I am.
All I know is what I read in the press this week , with reference to groundrent charges rising well above inflation each year.
This then sounded like a scam.

Typhoon2000

In my case, the land was owned by the Port of London Authority, and the developer leased the the land to build on it (or something to that effect). So my freeholders is the Port Authority not the developers.

bruich76

I think you are right to stay away from them. In effect, what the developer is trying to do is bank income in a time when the interest rates are low. As x number of leasehold properties x £250.00 ground rent a year can end up being a significant sum. Especially, on sum of the larger sites.


They then sell the managing company (as a business) to an outside source who will take over when the developer has gone. Not a bad business to buy really as you are in effect buying a business with an income steam for 999 years. Most businesses are valued at 5 times assets you if you take the example of a development having 200 houses x £250 per year x 5 years = £250,000.00