In recent weeks when reading the newspapers, some of the headlines, about leasehold being broken, is a dangerous narrative. So, I want to explore what’s being said and hopefully provide a balanced view, one that’s not being expressed.
We may well start with Leasehold houses, it’s weird as an agent to hear those words, as personally I find it a strange concept. Houses in everyone’s mind are traditionally freehold. So, granting a lease on a house, with no communal shared space in the property is weird. But there are many houses with these leases and I understand the problem and why people are shouting about it. However, I don’t think ‘leasehold’ is broken on the back of this problem. This is simply not true. This is a situation that needs addressing, in its own rite. One view is that people who bought houses are aware of the lease and accepted it. The argument that the buyer is unaware of the lease terms is weak, in my view. When you purchase a house you have legal representation, and conveyancing solicitor. So, to say people are unaware I find a non-argument. The view that it’s not fair generally speaking, is worth listening to.
The other issue we hear is the ‘doubling of ground rent’. I purchased a flat many years ago and its terms in the lease that the ground rent would double every 10 years. I had no problem with it, no problem what so ever. This idea that leaseholders are being fleeced is pure BS.
I don’t get the problem, I have read a storey where someone was paying £3000 and £8000 ground rent a year. Of course, this is crazy. But this is not the situation for the majority of leaseholders in the UK. How many people are complaining? How many people pay thousands a year? I think this idea that there is a ‘ground rent scandal’ is wrong. This larger problem has to be the minority! I challenge anyone to give me some facts on this to change my view? ANYONE? Leasehold is not BROKEN on the back of this problem that affect a few.
It seems you can’t go one week without reading a storey on it. The narrative over and over has no balance. If you keep knocking the industry and removing the ways to monetise things and makes money, how do you think the service level will rise? Do the people saying these things understand how to run a commercial enterprise? And turn a profit? Because if you keep bashing the fees, knocking the costs down, it’s a fast track solution to making the industry worse not better.
No surprise its political. It would be typical of our Politician’s to not understand this. What qualifies the people saying these things to say them?
I would say be careful who you listen to and what you read. Most of what I read is BS and has no credibility. It’s completely one sided and provides no balance to the reader.
There are some amazing people and companies in this sector, working within difficult circumstances, with difficult people. Whilst getting bashed, what seems to be on a daily.
I have nothing more to say, as this just gets me mad, other than: #LEASEHOLDISNOTBROKEN
