PLEASE READ BEFORE POSTING
Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.Leasehold Properties
Options
ChrisTM
Posts: 3 Newbie
Hello,
I purchased a new detached house on a Charles Church development some 15 months ago, this was a leasehold property. As the development has now come to an end, the final few houses have been sold freehold as they were struggling to sell them. This is rather decisive and unfair and I'm wondering if anyone else has encountered this issue?
I was going to wait the two years and buy out my leasehold which will cost me sround £5/6,000, but in light of these recent freehold sales, wonder if there would be any merit in me raising a legal challenge against Charles Church, especially as the subject of leasehold is currently a hot potato in parliament and there might be new legislation coming to bar properties being sold with it. In the meantime, I continue to reside in a property that I will never completely own and pay annual fees for no extra service,.
I purchased a new detached house on a Charles Church development some 15 months ago, this was a leasehold property. As the development has now come to an end, the final few houses have been sold freehold as they were struggling to sell them. This is rather decisive and unfair and I'm wondering if anyone else has encountered this issue?
I was going to wait the two years and buy out my leasehold which will cost me sround £5/6,000, but in light of these recent freehold sales, wonder if there would be any merit in me raising a legal challenge against Charles Church, especially as the subject of leasehold is currently a hot potato in parliament and there might be new legislation coming to bar properties being sold with it. In the meantime, I continue to reside in a property that I will never completely own and pay annual fees for no extra service,.
0
Comments
-
If you purchased the house knowing it was leasehold then what are you complaining about?0
-
You purchased the house knowing it was leasehold, and the developers have now made a business decision to help them to sell the remaining properties. You weren’t duped so I can’t see that you have anything to complain about. FWIW, the freehold properties may still have to pay some kind of service charge for the upkeep of the estate, as this is very common in new developments.0
-
The developer was at liberty to sell their houses freehold or leasehold and you were free to accept or reject their offering, so there is no deception and you have no case.
In any event, the existence of leasehold property is not a 'hot potato' as you claim; it's the exponentially increasing charges written into some of them which has caused concern. As above, many freehold properties also have service charges nowadays for things like maintenance of communal areas.
Enjoy the rest of your weekend, do some reading around the subject and relax, because you aren't going to be mounting any legal challenge against the developer yourself. If the conditions of your lease are deemed unfair if/when parliament has ruled on this, you would be among thousands seeking an amendment to the lease, not a change from leasehold to freehold.
....Or you could just buy the freehold.0 -
Always someone else's fault,
OP you got to take responsibility for your own actions, I would not touch leasehold with a bargepole imo"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
If the developers are selling other houses as freehold, they might be happy to sell you the freehold of your house now.
If you and the developer can agree a price and terms, you don't have to wait 2 years.
You can ask them how much they want for the freehold and/or make them an offer.0 -
If you buy leasehold you accept you are buying a less desirable property. Thats not the developers problemAn answer isn't spam just because you don't like it......0
-
Thanks pal, really useful response .....0
-
Some constructive responses thanks and for those of you who wanted to troll the post, jog on and get a life, you clearly need to get out more yawnnnnnnn0
This discussion has been closed.
Categories
- All Categories
- 343.4K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.8K Spending & Discounts
- 235.5K Work, Benefits & Business
- 608.4K Mortgages, Homes & Bills
- 173.2K Life & Family
- 248.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards