{"id":142276,"date":"2024-02-10T22:00:47","date_gmt":"2024-02-10T15:00:47","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-literally-giving-somebody-money-for-nothing-the-battle-to-reform-property-leaseholds\/"},"modified":"2024-02-10T22:10:44","modified_gmt":"2024-02-10T15:10:44","slug":"its-literally-giving-somebody-money-for-nothing-the-battle-to-reform-property-leaseholds","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-literally-giving-somebody-money-for-nothing-the-battle-to-reform-property-leaseholds\/","title":{"rendered":"\u2018It\u2019s literally giving somebody money for nothing\u2019: the battle to reform property leaseholds"},"content":{"rendered":"


\nFlat buyers across England and Wales have been shocked at the \u2018feudal\u2019 nature of the ground rent system. Even Michael Gove says it must change. But landowners are fighting backWhen Lauren Stanley, an insurance broker from Kent, bought her two-bedroom new-build flat in Tonbridge for \u00a3180,000 in 2013, she had no idea that it came with a problematic ground rent arrangement. It wasn\u2019t until she attempted to sell the property, and saw three buyers pull out, that she learned what was putting them off.\u201cOnce my third buyer pulled out, I was advised that I have a rising ground rent clause, which sees the fee increase every five years in line with inflation,\u201d she says. The first increase took it from \u00a3250 to \u00a3320, and if it carried on increasing by the same percentage, by the end of the 115-year lease term it would have been an extortionate amount. She put the eventual figure at more than \u00a3100,000 a year. Continue reading…
\n
\nSource : theguardian.com
\nRead more…\u2018It\u2019s literally giving somebody money for nothing\u2019: the battle to reform property leaseholds<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Flat buyers across England and Wales have been shocked at the \u2018feudal\u2019 nature of the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-142276","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-B0M","jetpack-related-posts":[{"id":33142,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-ground-rent-scandal-that-is-engulfing-new-home-buyers\/","url_meta":{"origin":142276,"position":0},"title":"The ground rent scandal that is engulfing new home buyers","date":"November 5, 2016","format":false,"excerpt":"\r \u2022 Flat owner reports being trapped in property valued at zero just six years after being built\u2022 \u00a31,000-plus fees to freeholder for permission to build extension \u2022 \u00a335,000 quote to buy freehold on Bovis detached house built a year agoFollowing a special report in last week\u2019s Guardian Money, there\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105625,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/homeowners-caught-in-a-crippling-ground-rent-trap\/","url_meta":{"origin":142276,"position":1},"title":"Homeowners caught in a crippling ground rent trap","date":"March 31, 2019","format":false,"excerpt":"\r A clause in their lease doubled the bill every 15 years, meaning mortgage lenders steered clearSahar Nejabati planned to sell her flat before she got married in order to buy somewhere more spacious to raise a family: but buyers would not touch it because of a clause in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71679,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/taylor-wimpey-most-buyers-in-ground-rent-scandal-have-agreed-new-deals\/","url_meta":{"origin":142276,"position":2},"title":"Taylor Wimpey: most buyers in ground rent scandal have agreed new deals","date":"November 14, 2017","format":false,"excerpt":"\r Housebuilder says demand for housing is still high, supported by the government\u2019s help-to-buy scheme The \u201csubstantial majority\u201d of Taylor Wimpey home buyers caught in the ground rents scandal will be able to switch to less onerous leasehold contracts, the housebuilder said after it set aside \u00a3130m to convert the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36342,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-promises-to-stamp-out-abuses-of-new-build-ground-rent-scandal\/","url_meta":{"origin":142276,"position":3},"title":"Government promises to stamp out abuses of new-build ground rent scandal","date":"November 29, 2016","format":false,"excerpt":"\r Sajid Javid pledges to \u2018do more\u2019 as Guardian campaign reveals that some buyers of new-build homes face ground rents which double every 10 yearsThe government has promised to \u201cstamp out\u201d abuses highlighted in a Guardian campaign that revealed how some buyers of new-build homes have been left with virtually\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":31250,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/beware-the-small-print-that-could-hike-one-bed-flats-ground-rent-to-8m-a-year\/","url_meta":{"origin":142276,"position":4},"title":"Beware the small print that could hike one-bed flat\u2019s ground rent to \u00a38m-a-year","date":"October 22, 2016","format":false,"excerpt":"\r At first the bill for a \u00a358,000 leasehold flat was \u00a3250 \u2026 then \u00a38,000. But the nightmare\u2019s just beginningYou\u2019ve just bought your first flat, and were told by your solicitor that the ground rent is \u00a3250 a year. So, on moving in, you are staggered to be presented with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53095,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/taylor-wimpey-sets-aside-130m-for-ground-rent-cases\/","url_meta":{"origin":142276,"position":5},"title":"Taylor Wimpey sets aside \u00a3130m for ground rent cases","date":"April 27, 2017","format":false,"excerpt":"\r Housebuilder apologises for leasehold scandal that saddled buyers with onerous fees\r \r Source : ft.com\r Read more...Taylor Wimpey sets aside \u00a3130m for ground rent cases","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/142276"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=142276"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/142276\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=142276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=142276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=142276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}