Leasehold Abolished – Huge News for leaseholders and property owners

Leasehold Abolished – Huge News for leaseholders and property owners

10:27 AM, 23rd November 2023, About 3 months ago 15

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In this video, Ranjan and Andrew discuss proposed new leasehold rules that could spell disaster for freehold owners. What does this mean for Property investors and the Property market?

Watch below to find out.


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Comments

Contango

12:37 PM, 25th November 2023, About 3 months ago

Reply to the comment left by Ann Macalevey at 25/11/2023 - 09:55
I quite agree, With a fully standardised lease extension template costs could be fixed at a few hundred pounds limit.

M&SFAN

16:25 PM, 25th November 2023, About 3 months ago

I'd really love to see leaseholds abolished because they are not fit for purpose in modern housing. But I have no confidence that this government could deliver anything useful. I expect either the usual U turn or else yet more badly drafted legislation that benefits the building industry and makes the problem worse. I'd love to think I'm wrong but I just can't think of anything they've tried lately that has worked.

Contango

16:33 PM, 25th November 2023, About 3 months ago

Reply to the comment left by M&SFAN at 25/11/2023 - 16:25
No one wants to pay service charges but they are a necessary evil. Leasehold enables enforcement, but leaseholders can take over running their building if they wish.

Dylan Morris

11:21 AM, 26th November 2023, About 3 months ago

Reply to the comment left by Contango at 25/11/2023 - 16:33Yes it’s called Right To Manage but be really careful if you have a multi block development. Following Triplerose v Ninety Broomfield Road in 2015 each block needs it’s own RTM company and each block has to be run completely separately. Needing it’s own budget, bank account, set of financial accounts, own directors and separate filings at Companies House etc. etc. It’s an absolute nightmare and economies of scale are destroyed. RTM only works now where the development is just a single block.

Dylan Morris

11:29 AM, 26th November 2023, About 3 months ago

Have not heard that the Government have done anything about this. Prior to this landmark case multi block sites could be run with just one RTM company. It needs to go back to that and the Government should legislate to over rule the Court Of Appeal’s decision in the Triplerose case. Seems they’ve done absolutely nothing about it.

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