The hidden dangers of leasehold.

Kennine
Kennine Forum Participant Posts: 3,472
1000 Comments
edited February 2017 in General Chat #1

Discussed today on the BBC  - http://www.bbc.co.uk/news/business-38827661   Would a Mod please make the url clickable. 

Comments

  • Vicmallows
    Vicmallows Forum Participant Posts: 580
    500 Comments
    edited February 2017 #2

    http://www.bbc.co.uk/news/business-38827661

    No need to be a Mod, K.  smile

  • redface
    redface Forum Participant Posts: 1,701
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    edited February 2017 #3

    Why did the purchasers solicitor not explain to her the full ins and outs of such a purchase? Or was she not listening?

    As said ,all was above board, its just that she was a bit surprised when it came to buying back the freehold.

  • EmilysDad
    EmilysDad Forum Participant Posts: 8,973
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    edited February 2017 #4

    Would have been better if you'd  clicked to make it open in a new window innocent

    Mod Comment

    Now done, but it would be useful if people adding links could remember to do this.

  • EmilysDad
    EmilysDad Forum Participant Posts: 8,973
    1000 Comments
    edited February 2017 #5

    It would be usefull-er if by pasting a link on this website it automatically made a live link in a new window ..... like other forums.

  • Kennine
    Kennine Forum Participant Posts: 3,472
    1000 Comments
    edited February 2017 #6

    Many thanks Vic.

    Strange that this is the only forum I use which does not automatically make a URL clickable. I aint going to faff about with something which the CC IT dept should have put right in the first place.

    That is another issue needing to be fixed in this dreadful CC software.

    Cheers ..........K

     

  • tombar
    tombar Forum Participant Posts: 408
    edited February 2017 #7

    Wow, nothing much changes on the forum does itlaughing.  Starting this chat about leases and ends up arguing the toss about clickssurprised

  • Pippah45
    Pippah45 Forum Participant Posts: 2,452
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    edited February 2017 #8

     It looks to me as though she was misled about buying the Freehold or someone did a dirty deal by allowing someone else to buy up the Freehold.  Caveat Emptor of course but it seems someone wasn't entirely honest at the start. 

  • EmilysDad
    EmilysDad Forum Participant Posts: 8,973
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    edited February 2017 #9

    This is something that we need to look into too as our leasehold is only short.

  • SteveL
    SteveL Club Member Posts: 12,302 ✭✭✭
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    edited February 2017 #10

    Strange that this is the only forum I use which does not automatically make a URL clickable. I aint going to faff about with something which the CC IT dept should have put right in the first place.

    However, you seem to expect the unpaid mods to do the faffing for you. It is very quick and easy to do, and I for one will happily explain how, if required.

  • Unknown
    Unknown Forum Participant
    edited February 2017 #11
    The user and all related content has been Deleted User
  • IanH
    IanH Forum Participant Posts: 4,708
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    edited February 2017 #12

    I was talking to a solicitor who deals in property recently and he had three 'golden rules' for buying a house:

    Never buy a leasehold property.

    Never buy a house without a mains drainage connection.

    Never buy a property that requires access to be made over someone else's land.

    I entirely agree with this advice.

    If a property is leasehold, I would negotiate the freehold as part of the deal. If this isn't possible (for a reasonable price) then walk away.

  • brue
    brue Forum Participant Posts: 21,176 ✭✭✭✭✭
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    edited February 2017 #13

    There are all sorts of reasons properties are leasehold see here

     

  • Pippah45
    Pippah45 Forum Participant Posts: 2,452
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    edited February 2017 #14

    As a keen watcher of Homes Under the Hammer - Leasehold doesn't seem to cause too many problems if handled intelligently and with awareness. 

    I wouldn't have lived in all the lovely places I have been if I had gone for the mains drainage one!  I don't recall EVER having mains drains except in an army quarter.  And various digs in London many years ago! 

  • DavidKlyne
    DavidKlyne Club Member Posts: 13,859 ✭✭✭
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    edited February 2017 #15

    Its understandable that Flats are held on a leasehold basis but it more difficult to understand why houses would be unless sold of a shared equity basis. It would be nice to think that if the leaseholder wanted to sell the leasehold they should first have an obligation offer it to the house owner first.

    David

     

  • TheTakman
    TheTakman Forum Participant Posts: 24
    edited February 2017 #16

    I would never buy a House Leashold no matter how long it was for because there is no need to buy a house on this basis.

  • IanH
    IanH Forum Participant Posts: 4,708
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    edited February 2017 #17

    My thoughts entirely, Takman.

  • DavidKlyne
    DavidKlyne Club Member Posts: 13,859 ✭✭✭
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    edited February 2017 #18

    That, I think, is making the assumption everyone can buy 100% of the equity of a house by a mortgage and therefore have a greater choice. My understanding is that some housing associations sell shared ownership houses on a leasehold basis. If that is the only way you can get on the property ladder you immediately have a far narrower choice of property. 

    David

     

     

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