Just there’s almost always a ground rent charge and a service charge and it would be higher I’d expect. Payment into sinking funds etc just be sure you know who’s responsible for what. They can also put clauses similar to rented like no pets, no sky dishes, can’t run a business from the house etc so just so long as you’ve seen it
My dads friend used to live on the estate and looked into buying the freehold it was around 5k. He moved a few years ago to a bigger house but it’s still the same price as when he lived there. They told me the newer home leases are the ones that change but as this ones older they said it won’t change. But I guess can still pull out if needed when the solicitor looks at paperwork.
I’ve asked about pets as I definitely want some pets they said no issues with that. I asked about altering stuff inside as I read online you sometimes have to get permission but they said no issue with it
It’s just so gross. Actually knocks me sick. Shouldn’t be allowed to just buy 50000 houses.Lloyds Bank aims to be a large UK landlord with 50,000 homes
Bullish internal targets contrast with cautious public comments on new rental businesswww.ft.com
So the government has mismanaged the economy so much that property is now a more lucrative investment than...investment banking.
They are all at, John Lewis is moving into the rental market. All be they are proposing to build their own homes instead of buying current stock.Lloyds Bank aims to be a large UK landlord with 50,000 homes
Bullish internal targets contrast with cautious public comments on new rental business
So the government has mismanaged the economy so much that property is now a more lucrative investment than...investment banking.
citymonitor.ai
This is absolutely frightening. If the family owned a few homes, I honestly wouldn't mind. But the fact that they own 37 homes is astonishing. These are 36 homes that families could own. 36 homes that people could buy to live in without fear of a rent increase or expulsion.This article on Tony Blair from 2016 popped up, says it pretty well:
On Monday, the Guardian reported that the Blairs now own a £27m property empire containing 37 different properties. They own an £8.5m Georgian townhouse in Connaught Square (that’s more than doubled in value since they bought it in 2004). They own a £750,000 country home out in Buckinghamshire (I mean, we all like to get out of London sometimes, right?).
The Blairs, to be fair, aren’t keeping all this wealth to themselves, but are redistributing some of it. Specifically, they’re redistributing it to their children, three of whom have names on the deeds of their own central London properties worth upwards of £1m. Eldest son Euan is also a director of Oldbury Residential, a buy-to-let company with 27 homes in Greater Manchester, which he co-owns with his mother, Cherie. His younger brother Leo doesn’t yet seem to own any real estate, in prime central London or otherwise. He’s only 15, though, so there’s still time.
To be fair to the Blairs, they’re only doing what many other families have done. Buy-to-let homes have become the asset class of choice for the well-to-do baby boomer, for the very good reason that returns on most other forms of investment have been rubbish. And, as the bubble has inflated, more and more affluent parents have felt it’s their duty to pass the wealth down to their kids. It’s rational. It’s natural, even.
But there are two problems with this argument. One is that, however inadvertently, Tony Blair was one of the architects of the housing crisis in which we now find ourselves and of all the problems that flow from it. I don’t think that was deliberate – but he is nonetheless profiting from a crisis that he helped to create, and that’s a pretty big black mark against any leader’s record.
The other problem with dismissing the Blair property empire as normal, middle class behaviour writ large is that it downplays quite how damaging the buy-to-let boom actually is. It isn’t simply that it’s crowded first-time-buyers out of the market, though that hasn’t helped. It’s that it’s created an entire class of people who have a financial interest in keeping rents as high, and housing regulations as weak, as possible.
Landlords tend to be older and richer than their tenants; they’re also more likely to stay in a constituency, and more likely to vote while they’re there. All those things make it far easier for the former group to get their voices heard than the latter.
As if that weren’t enough, nearly a third of MPs are landlords too, and while most no doubt think they do their best to hear both sides of the argument before legislating, they will nonetheless find it much easier to grasp the arguments against stronger tenant rights than the ones in favour of it. People are generally remarkably adept at seeing the moral case for their own financial self-interest.
The government of Tony Blair helped create the buy-to-let class. Now, he is its prophet, its talisman, its patient zero. Yes, the Blairs are only doing what any other rich, middle class family would do. That is precisely the problem.
“Tony Blair helped create the buy-to-let class. Now, he is its prophet, its talisman, its patient zero”
Maybe I'm getting soft in my old age, but I sometimes feel like the Left gets a bit mean about Tony Blair on occasion. Sure, he had a strange fetish for
Do you know about buying the lease? My parents said they’d buy it for me, can they do that?
Do you mean buy the freehold? Only if the current freeholder wants to sell it and at what price. You really need to speak to your solicitor about it, they’ll be able to give you advice as every situation will be different with different clauses/people involved etc
Sorry yes the freehold is what I meant! I will speak with them, its on the list just a few things to do first. It was more if you knew if they did give me the money to buy it, I’m assuming if it’s under the 3k tax free gift limit then there wouldn’t be any issues but if over then I’d have to pay tax on what they gift me?
If you cant buy the freehold ask for the cost of extending the lease but only if you are happy with the associated leasehold costs per year.
We spoke to some people who lived there and my dads friend used to. Most said they didn’t look into buying it but one did say they think you have to have it two years before buying it so I’ll probably buy it after the 2years if I couldn’t buy it now. Nothing on the leases has changed in the 14years since they’ve been built so hopefully should be ok.
Thank you I’ll ask the solictor and get in touch with whoever I need
Yes, you don’t have to do either if you don’t want to.
I think someone previously in this thread said about houses selling before being online as the estate agent was sending info out to people beforehand.
