{"id":31252,"date":"2016-10-22T13:00:09","date_gmt":"2016-10-22T06:00:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-is-theft-well-leasehold-certainly-is\/"},"modified":"2016-10-22T13:02:06","modified_gmt":"2016-10-22T06:02:06","slug":"property-is-theft-well-leasehold-certainly-is","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-is-theft-well-leasehold-certainly-is\/","title":{"rendered":"Property is theft? Well, leasehold certainly is"},"content":{"rendered":"


\nGround rent … sparking seedy practices for which there is no ethical basisIt beggars belief that there can be clauses in a property contract which allow a freeholder to backdate the ground rent and then present an extortionate bill to the unsuspecting buyer of a flat. That we can run a story about Kadian Kennelly, who was expected to pay ground rent of \u00a38,000 a year, and as much as \u00a38m in the future (yes, on her one-bed flat), shows the staggering greed at the extreme end of this \u201cmarket\u201d. But perhaps we can thank her freeholder for one thing: helping us to throw a spotlight on a seedy practice for which there is no ethical basis.Only in Britain do we persist with an archaic form of property ownership that allows the rich to extract an income out of hard-working homebuyers and provide absolutely nothing in return. What\u2019s more, rather than seeing this practice wither on the vine, it is, astonishingly, actually getting worse. Continue reading…
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\nSource : theguardian.com
\nRead more…Property is theft? Well, leasehold certainly is<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ground rent … sparking seedy practices for which there is no ethical basisIt beggars belief...<\/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-31252","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\/p75ss1-884","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":31252,"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":77330,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ground-rent-can-landlords-really-demand-six-years-payments-in-one-hit\/","url_meta":{"origin":31252,"position":1},"title":"Ground rent: can landlords really demand six years\u2019 payments in one hit?","date":"January 19, 2018","format":false,"excerpt":"\r My freeholder hasn\u2019t been sending annual invoices, and has just landed me with a massive billI read with interest about landlords being able to claim six years\u2019 worth of ground rent providing they complete the appropriate demand form. Now my freeholder has done just that. Are they in breach\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":141376,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freeholders-living-off-rentier-structure-with-exorbitant-ground-rent-mps-say\/","url_meta":{"origin":31252,"position":2},"title":"Freeholders living off \u2018rentier structure\u2019 with \u2018exorbitant\u2019 ground rent, MPs say","date":"January 19, 2024","format":false,"excerpt":"\r MPs questioned freeholder groups in committee hearing over leasehold reform billMPs have laid into freeholders for creating a \u201crentier structure\u201d in England and Wales in recent years, charging \u201cexorbitant\u201d ground rents of \u00a38,000 a year in some cases, as a freeholder group pushed back against proposed changes to leasehold\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":148107,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/our-flats-rising-ground-rent-is-going-to-ruin-our-move\/","url_meta":{"origin":31252,"position":3},"title":"Our flat\u2019s rising ground rent is going to ruin our move","date":"November 12, 2024","format":false,"excerpt":"\r Our buyer\u2019s lender has pulled out because the charge rises with the property\u2019s rising value. Now the delay risks collapsing the whole chainWe found a buyer for our leasehold flat, but on the day of exchange their lender declined to offer a mortgage, despite having previously agreed in principle.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":149800,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/a-two-tier-housing-market-will-be-the-result-of-labours-half-baked-leasehold-reform-plans-harry-scoffin\/","url_meta":{"origin":31252,"position":4},"title":"A two-tier housing market will be the result of Labour\u2019s half-baked leasehold reform plans | Harry Scoffin","date":"March 13, 2025","format":false,"excerpt":"\r The current system in England and Wales is iniquitous, but the answer isn\u2019t to divide flats into shiny new-builds v leasehold debt trapsThe leasehold system in England and Wales has needed tearing down since the medieval era. It locks homeowners, especially those in flats, into an exploitative, serf-like relationship\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54631,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/taylor-wimpey-compensation-offer-is-pr-con-claim-victims-of-leasehold-scandal\/","url_meta":{"origin":31252,"position":5},"title":"Taylor Wimpey compensation offer is PR con, claim victims of leasehold scandal","date":"May 13, 2017","format":false,"excerpt":"\r Some homeowners believe they will still be left in the clutches of ground rent companies and have to pay excessive chargesTaylor Wimpey last month offered \u00a3130m to buyers trapped in new-build homes with spiralling ground rent contracts. It was a move initially greeted with glee by victims of the\u2026","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\/31252"}],"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=31252"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/31252\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=31252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=31252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=31252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}