We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

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.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Worried Parent

2

Comments

  • mta999
    mta999 Posts: 347 Forumite
    100 Posts Name Dropper
    edited 31 January at 10:30AM

    It's only me but I would not buy this kind of house - they are not called fleecehold (Google it) for nothing.

    https://www.google.com/amp/s/www.bbc.co.uk/news/uk-politics-68673216.amp

    https://www.gov.uk/government/news/stronger-protections-for-homeowners-on-fleecehold-estates

  • eddddy
    eddddy Posts: 18,429 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 31 January at 10:48AM

    Buying the freehold (by statutory enfranchisement) with the current law might cost £6k to £7k - plus professional feels, which might be an extra £3k to £5k.

    (So I guess you could argue that the leasehold house should cost about £10k less than an equivalent freehold house.)

    With the proposed changes in the law, the fees should be less - it's less clear about the cost of the freehold itself.

    As for how straightforward the process of buying the freehold would be… In simple terms, typically you instruct a solicitor and valuer, and leave them to get on with it. Then pay the money when it's time for completion.

  • RelievedSheff
    RelievedSheff Posts: 12,782 Forumite
    10,000 Posts Sixth Anniversary Name Dropper Photogenic

    The local authorities do still adopt the highways and footpaths on most modern estates. This is a common misconception about estate management charges.

    The estate charges cover the maintenance of green spaces, parks and public open spaces that the local authorities very rarely adopt now due to ongoing maintenance costs.

  • PixelPound
    PixelPound Posts: 3,118 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper

    I wouldn't rely on the prospect of new legislation as most likely it could be dropped ahead of general election being called. Even if a ground rent cap was introduced, it doesn't mean that service charge won't go up instead.

    Whilst normally known for flats, a lot of new build houses in 2010's were done like this. Personally I would avoid if possible, especially if there is no price differential. Of course for any particular case it would depend on the contract and what the limitations and implications were.

    The question is, if you are having doubts buying, the same might be for other buyers when your daughter comes to sell.

  • caylus
    caylus Posts: 8 Forumite
    Sixth Anniversary First Post Combo Breaker

    Many thanks again for all the replies. At the moment she's trying to ascertain exactly what is included within the maintenance fees and wether or not any of the roads have been adopted by the council. She only has the figure for this current year so again needs to check what the vendor has paid in the past. Read so much on this particular subject over the last few days and as is normal a massive range of opinions. It's the fact there doesn't seem to be a ceiling on what could be charged in any worst case scenario that's causing most concern.

  • wouldnt touch leasehold with a bargepole. it used to be ok, had a couple in the 80s, but then freeholders decided to get greedy , seen too many recent cases of exorbitant charges and clauses.

  • Tabieth
    Tabieth Posts: 484 Forumite
    100 Posts First Anniversary Name Dropper Photogenic

    When I was house hunting I wouldn’t even consider any leasehold houses. I wouldn’t even view one. I’m not alone in that regard. So that’s for her to consider, limiting future potential buyers.

  • user1977
    user1977 Posts: 19,166 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper

    No, but being pragmatic about it, if the charges only relate to e.g. the gardening of the landscaped bits of the estate, the costs are hardly likely to soar to ridiculous levels. Unless you are concerned about them buying a diamond-encrusted lawnmower every year…

  • SarahB16
    SarahB16 Posts: 531 Forumite
    Third Anniversary 100 Posts Name Dropper

    I am the same never a leasehold house.

    I would consider freehold houses with management charges but I would still want to know what the responsibility is for the homeowners.

  • dinosaur66
    dinosaur66 Posts: 324 Forumite
    100 Posts Name Dropper First Anniversary

    look to see if any covenants on these type of estates

    i looked at one that had a rule that no vans were allowed to be left outside the property overnight

    other that say you cannot run an ebay shop from the property or any business whatsoever

    that you need to ask freeholder permission when you want to change something inside or outside your property

    ie front door/windows/

    internal layout

    say maximum limit of 1 dog per house and loads of other stupid rules

    people should be able to do what they want when they want in there own house when it comes to everyday lifestyle and living

Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.5K Banking & Borrowing
  • 254.1K Reduce Debt & Boost Income
  • 455K Spending & Discounts
  • 246.6K Work, Benefits & Business
  • 602.9K Mortgages, Homes & Bills
  • 178.1K Life & Family
  • 260.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.