i was surprised gove cared in the first place. leasehold is totally unfair, basically you buy a piece of paper, and then have to buy it again 5 years later. i'm a pensioner and leasehold has me trapped living somewhere i wanted to move away from 5 years ago. i won't be upset cos when i extended my lease i the rent went up from £250 to £300 per year- which isn't a lot but the lease extension cost £5000 and i had to get the rent capped which cost another £900 or ther rent could just be increased, for fun, until my property is worthless, and already i;m on the market for £20,000 less than the valuation and my neighbour sold at £40,000 below market. property should be freehold and rents a token to ownership of the land.
I'm disgusted that they're trying to make this an old versus young issue by calling themselves 'pensioners'. Pensioners are also being forced to pay ground rent for their homes. Including my own mum who has to give a big chunk of her state pension to her landowning overlord every year just so she can continue living in her flat.
@@jchan9761 My father bought me my property in 2007 and paid a solicitor to do all the legal work. I was young and not well educated on the subject but I wish I knew then what I know now.
When buying my house I found out it was leasehold and I wanted the freehold as a condition of me buying it. It took 5 months for us just to find out who owned it. Surprise, surprise it was owned by an obscure company in the tax haven of Jersey. Said company is owned by William Astor IV (Yes, that Astor family) who is brother in law to.....David Cameron
So old people get generous private pension, state pension extra social benefits. Free or heavily reduced travel. And also ground rent plus rent income on apartments they bought for next to nothing. While the young get crumbs. Got it!
Your a bit muddled up. Some older people get a private pension because they sacrificed spending when they were young in order to save money into a pension. Some older people didnt and chose to use their money for other things. Granted, it helps to have surplus income to your needs to do this but some just lived a frugal life in order to save for their old age. All the other benefits you mentioned that the elderly have you will also get when you become older and have paid tax and NI all your working life.
private pension,....which they paid into for DECADES state pension.....which they paid into for DECADES extra social benefits....which they paid into for DECADES Free or heavily reduced travel....you mean a free bus pass And also ground rent plus rent income on apartments they bought for next to nothing.....so you now blame them for the time they were born at Guessing you're a very nasty, angry little scrote that thinks the whole world is against it. GROW! UP! You, silly, silly little child
5:00 it's a joke even as an admin fee, what you're paying for is for someone to hold a piece of paper, literally that's all they do - have a piece of paper showing they own the land. such hard work i imposed on them.
It isn't the matter of the ground rent alone in it's annual total that is solely the problem it's the further stress it causes while making your fully purchased tenanted property unsellable and being held to ransom for thousands more in premiums and legal fees through lease extensions which is something further that is in unnecessary and is paid under duress in a captive market...it is Lease abolishments that should be taking place, not extensions.....
Totally agree. Ground rent is usually a minor cost. Its the cost of renewing a lease including the absurd "marriage value " where the leaseholder has to give the freeholder tens of thousands of £'s for the privilege of renewing and keeping a roof over their head.
The following companies should be totally ashamed of themselves for the disgusting way they have treated innocent leaseholders RG Reversions Ltd 2014 Pier Management based in Southend Essex Parkfords Property Management Bromley The Gould Brothers
when i bought my flat it was the only place i could afford near my sons school, if i had known what i was letting myself in for, i still would have been forced to buy. but. but no one would buy a leasehold property unless they had no alternative, i signed my lease under duress. in fact i think i ought to charge the freeholder maintenance fees for looking after their property, say £100 per day?
No matter how much u tell people that gov incentives - buy to let, shared ownership- will never be to their benefit , they won’t listen . So good luck to those who continue to buy leasehold properties and use gov incentives. We all also know that boomers always place themselves above everyone else.
This has nothing to do with boomers. I am one and i have to pay ground rent and worse still i have to pay a huge marriage value otherwise every year my property decreases in value. You, and the message of this show are conflating pensions with being a boomer. Anyone, including young people, that are investing in a pension would be affected. But as the guest said, freehold property is a small fraction of the total pension pot. Leaseholds should be abolished.
Ground rents are going up by ridiculous amounts. And leaseholders can't sell on their properties when they go above £250. This man doesn't know enough about what people are experiencing.
Interesting arguement from the freeholder... sounds like he doesn't think there's anything wrong with ground rent... apart from the ones that are too high. Or, in other words, it's okay to exploit people a bit... but don't make it too obvious. No wonder pension funds liked it, an income for absolutely nothing that's secured against property (lose your lease if you don't pay it). The real kick in the teeth though was claiming that it's an admin fee... hang on, leaseholders already pay for the admin in the service charge (which I'm sure wouldn't end up with a company providing a service at inflated cost or any commission payment back to the freeholder, also no chance that the freeholder has any "friends" at that company)
Forgive my ignorance but if there are investors, are they not aware that most investments are chancy? Why is the money not invested in multiple opportunities, so if one goes, they have options? It's a poor look to have such massive oppression on the young folks. Why would we want this for our kids and grandkids?
Ground Rent is a racket, pure and simple. Needs to be reformed.
Abolished
this country is an absolute joke
most estate agents wont state the ground rent on their adverts which is a disgrace..time to change this crooked system
i was surprised gove cared in the first place. leasehold is totally unfair, basically you buy a piece of paper, and then have to buy it again 5 years later. i'm a pensioner and leasehold has me trapped living somewhere i wanted to move away from 5 years ago. i won't be upset cos when i extended my lease i the rent went up from £250 to £300 per year- which isn't a lot but the lease extension cost £5000 and i had to get the rent capped which cost another £900 or ther rent could just be increased, for fun, until my property is worthless, and already i;m on the market for £20,000 less than the valuation and my neighbour sold at £40,000 below market. property should be freehold and rents a token to ownership of the land.
Doubling the rent making the selling of the flat imposibile
I'm disgusted that they're trying to make this an old versus young issue by calling themselves 'pensioners'.
Pensioners are also being forced to pay ground rent for their homes. Including my own mum who has to give a big chunk of her state pension to her landowning overlord every year just so she can continue living in her flat.
They say Average Ground Rent is £300 a year. Mine is nearly that a month.
Do you mean service charge?
If true, how did you miss that detail in the contract?
@@lucasmoreno5330 No my Service Charges are £90 per month
@@jchan9761 My father bought me my property in 2007 and paid a solicitor to do all the legal work. I was young and not well educated on the subject but I wish I knew then what I know now.
you're getting scammed my friend...
When buying my house I found out it was leasehold and I wanted the freehold as a condition of me buying it. It took 5 months for us just to find out who owned it. Surprise, surprise it was owned by an obscure company in the tax haven of Jersey. Said company is owned by William Astor IV (Yes, that Astor family) who is brother in law to.....David Cameron
Oh what a tangled web we weave...
What he failed to mention is doubling the GR every 10 or 20 years
Thank you! Good point!
So old people get generous private pension, state pension extra social benefits. Free or heavily reduced travel.
And also ground rent plus rent income on apartments they bought for next to nothing.
While the young get crumbs.
Got it!
Not really the old only rich old people that ate everything and are leaving nothing for the next generation
Your a bit muddled up. Some older people get a private pension because they sacrificed spending when they were young in order to save money into a pension. Some older people didnt and chose to use their money for other things. Granted, it helps to have surplus income to your needs to do this but some just lived a frugal life in order to save for their old age. All the other benefits you mentioned that the elderly have you will also get when you become older and have paid tax and NI all your working life.
private pension,....which they paid into for DECADES
state pension.....which they paid into for DECADES
extra social benefits....which they paid into for DECADES
Free or heavily reduced travel....you mean a free bus pass
And also ground rent plus rent income on apartments they bought for next to nothing.....so you now blame them for the time they were born at
Guessing you're a very nasty, angry little scrote that thinks the whole world is against it. GROW! UP! You, silly, silly little child
The greed is disgusting
5:00 it's a joke even as an admin fee, what you're paying for is for someone to hold a piece of paper, literally that's all they do - have a piece of paper showing they own the land. such hard work i imposed on them.
It isn't the matter of the ground rent alone in it's annual total that is solely the problem it's the further stress it causes while making your fully purchased tenanted property unsellable and being held to ransom for thousands more in premiums and legal fees through lease extensions which is something further that is in unnecessary and is paid under duress in a captive market...it is Lease abolishments that should be taking place, not extensions.....
Totally agree. Ground rent is usually a minor cost. Its the cost of renewing a lease including the absurd "marriage value " where the leaseholder has to give the freeholder tens of thousands of £'s for the privilege of renewing and keeping a roof over their head.
The following companies should be totally ashamed of themselves for the disgusting way they have treated innocent leaseholders
RG Reversions Ltd 2014
Pier Management based in Southend Essex
Parkfords Property Management Bromley
The Gould Brothers
when i bought my flat it was the only place i could afford near my sons school, if i had known what i was letting myself in for, i still would have been forced to buy. but. but no one would buy a leasehold property unless they had no alternative, i signed my lease under duress. in fact i think i ought to charge the freeholder maintenance fees for looking after their property, say £100 per day?
Doesn't work like that.
@@bobjames6622so how does it work then? It works by ripping off people?
Tiries breaking a oromise - no news there then
Just looking after their property owning friends
No one owns the ground! ... how can they? The earth is not theirs! ❤
In the UK we still have Norman rule from 1066.
No matter how much u tell people that gov incentives - buy to let, shared ownership- will never be to their benefit , they won’t listen . So good luck to those who continue to buy leasehold properties and use gov incentives.
We all also know that boomers always place themselves above everyone else.
This has nothing to do with boomers. I am one and i have to pay ground rent and worse still i have to pay a huge marriage value otherwise every year my property decreases in value. You, and the message of this show are conflating pensions with being a boomer. Anyone, including young people, that are investing in a pension would be affected. But as the guest said, freehold property is a small fraction of the total pension pot. Leaseholds should be abolished.
Why should I give someone a few hundreds pounds every year for a ground rent for nothing? Does anyone give me something for nothing?
Don’t worry. Labour can reinstate it and sort it out. 😅
Yes, I wouldn't hold your breath.
Ground rents are going up by ridiculous amounts. And leaseholders can't sell on their properties when they go above £250. This man doesn't know enough about what people are experiencing.
Interesting arguement from the freeholder... sounds like he doesn't think there's anything wrong with ground rent... apart from the ones that are too high. Or, in other words, it's okay to exploit people a bit... but don't make it too obvious. No wonder pension funds liked it, an income for absolutely nothing that's secured against property (lose your lease if you don't pay it). The real kick in the teeth though was claiming that it's an admin fee... hang on, leaseholders already pay for the admin in the service charge (which I'm sure wouldn't end up with a company providing a service at inflated cost or any commission payment back to the freeholder, also no chance that the freeholder has any "friends" at that company)
Loan shark is a business!
As far as im aware it is going forward with amendments. £250 cap on ground rent. Im more interested in the marriage value for leases under 80 years.
Social housing now ! ( but not behind my house )
Forgive my ignorance but if there are investors, are they not aware that most investments are chancy? Why is the money not invested in multiple opportunities, so if one goes, they have options? It's a poor look to have such massive oppression on the young folks. Why would we want this for our kids and grandkids?
Just say NO! Utter greed
stuff all 2nd or more homeowners...ban all second homes and that includes the aristocracy
Somebody was investing in slaves and lost money. It's the same to keep slavery. Investment didn't guarantee profit. sometimes you lose. Simple
leasehold will be abolished eventually but it might take another 10 years or so...
Good luck with your delusion! LOL!
@@bobjames6622 whats deluded about what I said?
@@billykotsos4642 I rest my case. DUH!
@@bobjames6622 sound argument
Says two comments none showing , deleted ?
Hey, are you related to New Zealand's foreign- born Green ( Red) MP Chloe Swarbrick? We don't like such MPs who practice ideologies on New Zealanders.
The first speaker - the pensioner - was more convincing.
He convinced enough people he's a pensioner but he's not, he's in his 50s.
If Labour are serious about reforming our feudal system , including the fleecehold system, they will win a landslide. Come on labour BE BRAVE!
they wont do it, because they would need to compensate the freeholders, unless they left the EHCR.
😂😂😂😂😂😂😂😂