Leasehold Properties Becoming Very Hard To Sell

Leasehold Properties Becoming Very Hard To Sell

Explore the escalating complexities of selling leasehold properties in this video. We delve into changes in legislation, ground rents, service charges, and leasehold enfranchisement, providing expert insights and practical solutions. Ideal for leaseholders, potential buyers, and those curious about the current property landscape.

Let me know your thoughts, comment below, any questions also post them below.

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[kalamuddin]

Private freeholders management companies are discusting

[Bigjohn]

Love your content, James. My first house was an ex council Tyneside flat and the service charges were reasonable, that said in large apartment blocks they are stupidly high. I avoided leasehold when I was a landlord and I would recommend anyone avoid it.

[markroyds]

Old leasehold houses aren't so bad. I've recently bought a leasehold. With 850 years left on the lease, an absent landlord aswell as ground rent being 50p a year.... It's basically freehold at this stage 😂 but flats are a different story....they are nothing but problems. I sold my flat recently to buy my house and the lease was just a legal mine field. It was so difficult to sell it with a doubling ground rent every 10 years... I had to knock a ton of money off the asking price to suffice for the stupid conditions in the lease. Just a nightmare. Don't ever buy a flat people. I can't speak on new build leaseholds but older ones I find are still a good choice

[hunglikedonkey]

Problem is, I think you have to pay around £600 up front for someone to tell you how much a lease extension will cost, if you turn round and say no I'll do it later, I presume you then have to pay another £600 odd to get another price, am I right? Excellent video though, will watch more.

[lesleystewart]

Dont touch them. The money you pay a month mostly £150. Will get you a mortgage £20.000 extra. And its not wasted like maintenance fees.

[Blackmessa]

Will ground rent really disappear though or will they just increase service charges to make up this loss?

[lhefe]

Hey, you forgot about flats with share of freehold. Also a massive factor apart from ground rent is super high service charges especially in older mansion blocks and new builds.

[shihuicheng]

Very well informed. Thanks! I bought a leasehold flat in London 2 yrs ago with 83 yrs lease left. I am about to be owning the property for 2 yrs so I am considering lease extension as the lease getting down to 81yrs. What would be your suggestion as shall I wait for the government's policy to be more clearer on lease issue, or shall I extend my lease asap as it getting down o the 80yr? Your seggestion is highly appreciated!

[ruthcormack]

yup, and because of this i just bought a 125 grand 2 bed 700 sq ft flat / 100 yr lease for a cool £70k.

[malcolmkempster]

Yes think we are all waiting to see what happens

[rikardsaje]

My leasehold properties are great, very reasonable management fee with peppercorn ground rent. They look after everything and 999 year lease. There's a resident who sits on the board, plenty of money in the slush fund. I don't look at flats with silly management fees. Keep it under £1000 .

[Venatus_K]

I own a house on lease hold. I pay £2.20 a year. I have 103 years left on the lease. Should I be worried? Or can I apply to extend the lease this early? The last lease was granted for 200 years. Any advice?

[realt]

Hello, how much is it to extend a lease just roughly so I know as I am looking to buy a flat has 90 years lease and when do you have to renew a lease?

[stevo]

How can you have freehold on a block of flats where multiple properties are on the same area of ground?

[baileyssoroya]

Good video. How about service charge which is also very very high in London.

[Akos-e]

Hi, would you recommend still buying a leasehold flat, if it has a long lease and low ground rent?

[HorrorLadSteveo]

Nothing wrong with flats i just got one in Hastings. Fixed ground rent for the next 26 years and 13 years before ive got to worry about lease extension and cashflows me well after costs

[arshadabbas]

what do you think for a recent build property in 2014 and ground rent is NIL with the remaining lease term is 241 years?

[KINGZfour]

One of the most important things in leasehold flats is your neighbours, as long as you live in a small building no less than 12 apartments and all leaseholders get on and work together. It can be better than freeholds.

[JanBanJoovi-olqv]

Leasehold used to technically give ownership to the leaseholder (like 999 years) and the owner of the land don’t undermind you. Nowadays leasehold is a typical tenant-landlord scenario, the landlord will screw you through the property managers. Totally pointless, much better if you just rent the normal way instead of paying advance rent.