Exploiting Ground rent Fees

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Exploiting Ground rent Fees

Post  Major on Mon Jul 31, 2017 12:34 pm

A property mogul has made millions of pounds through ‘exploitative’ ground rent fees paid by up to 40,000 households, it has been revealed.

Read more: http://www.dailymail.co.uk/news/article-4744946/The-tycoon-owns-freeholds-40-000-homes.html#ixzz4oOsCfsHh 
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I only thought ground rent was charged on flats.

He has his head screwed on, clever clogs, yes or no?
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Re: Exploiting Ground rent Fees

Post  nicko on Mon Jul 31, 2017 7:12 pm

More of a thieving bastard I think.
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Re: Exploiting Ground rent Fees

Post  Major on Mon Jul 31, 2017 7:41 pm

nicko wrote:More of a thieving bastard I think.


Ground rent on leasehold flats is common, Nicko.
I had never heard of it on freehold property
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Re: Exploiting Ground rent Fees

Post  harvesmom on Mon Jul 31, 2017 8:58 pm

I bought my house 26 years ago and I have to pay ground rent. Every new house for sale around that time was leasehold, I assumed it didnt happen any more. 

I am lucky though, in all that time mine has gone up from £100 per year to £120 per year. Some people have bought their lease but paid around 20k for it, I will just keep paying my 100 pounds a year.
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Re: Exploiting Ground rent Fees

Post  Flap Zappa on Tue Aug 01, 2017 10:14 pm

Major wrote:A property mogul has made millions of pounds through ‘exploitative’ ground rent fees paid by up to 40,000 households, it has been revealed.

Read more: http://www.dailymail.co.uk/news/article-4744946/The-tycoon-owns-freeholds-40-000-homes.html#ixzz4oOsCfsHh 
Follow us: - | -

I only thought ground rent was charged on flats.

He has his head screwed on, clever clogs, yes or no?
anywhere where you dont have a freehold requires ground rent

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Re: Exploiting Ground rent Fees

Post  Major on Tue Aug 01, 2017 10:39 pm

Since marriage we have had 6 houses, all freehold.

I had never heard of leasehold houses until this post, only flats.
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Re: Exploiting Ground rent Fees

Post  harvesmom on Wed Aug 02, 2017 12:33 am

I also have to pay gardening fees twice a year. The council don't maintain the grass and trees on our estate, that's been like it since I bought it. That can vary, usually around the £100 a year as well though. To be fair that hasn't gone up much either!

I think it was normal with new builds around the time I bought this. Although sitting here now I am wondering if I could sue the local council for not maintaining the estate, I pay my council tax etc so its hardly fair. 

Basically I own the bricks and mortar but not the land its sitting on
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Re: Exploiting Ground rent Fees

Post  Flap Zappa on Wed Aug 02, 2017 1:42 am

harvesmom wrote:I also have to pay gardening fees twice a year. The council don't maintain the grass and trees on our estate, that's been like it since I bought it. That can vary, usually around the £100 a year as well though. To be fair that hasn't gone up much either!

I think it was normal with new builds around the time I bought this. Although sitting here now I am wondering if I could sue the local council for not maintaining the estate, I pay my council tax etc so its hardly fair. 

Basically I own the bricks and mortar but not the land its sitting on
if you use right to buy for a council place then fee's will rocket.
I have to pay over 1% of any costs accrued by the estate, It can be quite a lot when they spend hundreds of thousands on it. I pay into a sink fund on top of the ground rent. So the last time I had to pay out it was mostly covered by what I paid in over 5 or 6 years. I still pay almost £150 a month now. I didn't pay much more when I rented the place.

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Re: Exploiting Ground rent Fees

Post  Major on Wed Aug 02, 2017 11:36 am

I think a law should be brought out to have leasehold additional payments on flats/apartments only as owners share amenities/gardens etc, NOT freehold houses which seems unfair to me as house holders have their own gardens.
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Re: Exploiting Ground rent Fees

Post  Lord Edmund Moletrousers on Wed Aug 02, 2017 11:41 am

Flap Zappa wrote:
if you use right to buy for a council place then fee's will rocket.
I have to pay over 1% of any costs accrued by the estate, It can be quite a lot when they spend hundreds of thousands on it. I pay into a sink fund on top of the ground rent. So the last time I had to pay out it was mostly covered by what I paid in over 5 or 6 years. I still pay almost £150 a month now. I didn't pay much more when I rented the place.

Living in a house built on a field on the family farm obviously has great advantages.
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Re: Exploiting Ground rent Fees

Post  Major on Wed Aug 02, 2017 12:46 pm

Providing you do not have to pay £150,000 up front to have electricity mains cable installed.
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Re: Exploiting Ground rent Fees

Post  Flap Zappa on Thu Aug 03, 2017 12:42 am

Lord Edmund Moletrousers wrote:
Flap Zappa wrote:
if you use right to buy for a council place then fee's will rocket.
I have to pay over 1% of any costs accrued by the estate, It can be quite a lot when they spend hundreds of thousands on it. I pay into a sink fund on top of the ground rent. So the last time I had to pay out it was mostly covered by what I paid in over 5 or 6 years. I still pay almost £150 a month now. I didn't pay much more when I rented the place.

Living in a house built on a field on the family farm obviously has great advantages.
true enough, although mine has risen in price more than 300% since I bought it 8 years ago. Maybe time to sell. I am still get 8% or so on my savings here. Or I could buy several places here and rent them out for more than I get in income in uk.

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Re: Exploiting Ground rent Fees

Post  harvesmom on Thu Aug 03, 2017 2:42 am

Flap Zappa wrote:
if you use right to buy for a council place then fee's will rocket.
I have to pay over 1% of any costs accrued by the estate, It can be quite a lot when they spend hundreds of thousands on it. I pay into a sink fund on top of the ground rent. So the last time I had to pay out it was mostly covered by what I paid in over 5 or 6 years. I still pay almost £150 a month now. I didn't pay much more when I rented the place.
Bloody hell thats outrageous! I have a direct debit set up up for £20 a month for the Ground rent/Gardening and I'm well in credit. 

Having said that, a lot of the houses on my estate are rented out and the tenants don't realise that a private company is responsible for the upkeep of back alleys/ grass verges etc so they maintain a lot of it themselves. The "gardeners" employed by the company I pay money to tip up once a month in the Summer and cut the bit by the side of the canal that runs down the side of the estate
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Re: Exploiting Ground rent Fees

Post  Major on Thu Aug 03, 2017 5:54 pm

My family have owned commercial and private housing stock since time in memorial, I am the head of the family with controlling interests and  transferred EVERYTHING to our kids about 12 years ago, including the house we live in.
They run it as a LTD company and pay income tax, I receive an income from it as a advisor which my wife is really, I pay tax which is why I am wee weed off with scrounging scum from every corner of the earth stealing OUR money.

I always advise buying property even if things are tight, It always shows a profit, the big boys make sure of that.

I could tell you stories..
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Re: Exploiting Ground rent Fees

Post  Lord Edmund Moletrousers on Fri Aug 04, 2017 8:36 pm

Major wrote:Providing you do not have to pay £150,000 up front to have electricity mains cable installed.

I have electricity, mains water  and telephone because they were originally laid on for the farm buildings, but I am not on the main sewer and have no cable services.

However, the latter are minor considerations considering that I have peace and quiet and stunning countryside views and have never had rent or mortgage fees to pay!
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Re: Exploiting Ground rent Fees

Post  Major on Fri Aug 04, 2017 9:18 pm

Peace and quiet plus stunning views is something to be grateful for milud.
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Re: Exploiting Ground rent Fees

Post  Flix on Fri Aug 04, 2017 11:31 pm

Wouldn't it be nice if we all could live in the kind of place we would like to. I'd like to be in a detached cottage surrounded by a garden but in a village setting with a c hoice of two or three proper pubs within walking distance. It would need a post office and general stores as well. Others of course would like a city setting with all the amenities that offers. If only there were just enough people to keep things going plus the young and the retired, with the technology to make it all possible, and allow nature and other species the space to do their thing, now that would be paradise, at least up to a point, I suppose we'd still bicker but surely not actually fight wars because everyone would have their ideal life and want for nothing.

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Re: Exploiting Ground rent Fees

Post  nicko on Sat Aug 05, 2017 7:21 am

If only Flix, if only.
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Re: Exploiting Ground rent Fees

Post  Lord Edmund Moletrousers on Sat Aug 05, 2017 10:54 am

Major wrote:Peace and quiet plus stunning views is something to be grateful for milud.

I look out of my bedroom window across a shallow valley with a field of grazing sheep in the foreground and then on to a Tudor farmhouse and tithe barn a quarter of a mile away, with a gentle wooded slope beyond.

It's all beyond price, and I know that I am truly blessed.
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