#freehold vs leashold

[kapzvproperty]

TTP587: How to avoid leasehold nightmares

TTP587: How to avoid leasehold nightmares

-You cannot write leasehold of

-40% of properties are Leasehold

-House prices are going down

-The market is finding its level

-So then transactions can go through

-Leasehold issues service charges up and cladding issues

-I want to extend the lease

-What does leasehold mean for you

-Lease is you own the land the property sits on and has a number of years. You have the right to extend the lease

-Leasehold vs Freehold

-Leashold you will see loads of flats

-Freehold will be a house

-Freehold you want to own the land and the property

-Flat your problem becomes someone elses problem

-Pay ground rent

-Would not pay out service charges or ground rent if you have a freehold

-No benefit to ground rent

-Property type

-Ground rent  you are paying rent for the ground

-They were quiet low

-2022 Ground rent has been abolished

-Ground rent is no more and was abolished in 2022

-Legal law will change how you will extend your lease

-990 years you can extend

-As soon as you take ownership of the property

-You are delivered a service for your service charges

-Maintenance of the building and the gardens

-Check who covers the insurance of the building some do service charges and some do insurance companies.

-Leasholders can form and association

-Right to manage

-Residents association

-Leaseholder advisor service - Free advice

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