#freehold vs leashold
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kapzvproperty · 5 months ago
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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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