Est 2000, professional freeholder with 36,000+ resi and commercial ground rents under management
Nationwide
Joined May 2009
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- Following2.7K
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This is comically bad, he will post anything without even the slightest fact check
- there aren’t 5m leaseholders, just 5m leasehold properties
- they aren’t all “people” many are corporates
- they don’t all pay service charge
@BarryGardiner is a certified incompetent ✅
Angela is going to “end freehold for good”
Those four words tell us all we need to know about her depth of understanding of the subject matter
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Landmark Investments retweeted
Then why don't people flock to Scotland to get a cheap tenement? Sure it might burn down, ok there's no insurance. But it's commonhold
Landmark Investments retweeted
A hand wringing of lenders over a g/rent of < 85 pennies a day rising by the RPI every 10 years seem bizarre when a FTB often has a mortgage of 3000 pennies a day and a 1/2% increase in interest rates sees it rise by a further 300 pennies a day
It’s an interesting one as the issues have all been caused by a (now) failed RTM. We have picked up the pieces, a lot of it at our cost, kept the building insured and are live with resolving
Sorry to spoil your freeholder bashing
Would have been defunct forever with commonhold
Residents still waiting for combustible cladding to be removed from building five years on notreallyheremedia.com/news/…
Landmark Investments retweeted
But it's not like 5m people are joining protests, it's the same 20 nutters on twitter over and over driving chaos.
Yes, there's a building safety crisis. But actually the freeholder is often very helpful in getting a good quote.
You're scapegoating incorrectly
That misses all context. There’s 5m+ leaseholds vs 844 management disputes (2023), let’s say half were negative, this gives us 0.008% negative or 99.992% neutral/better
I feel I have enough real world experience and common sense to be able to logic out the likelihood of certain probabilities
There is a scenario where some form of CH is introduced and the market refuses to adopt. Gov would then need to step in as effective freeholder/underwriter
Could they be “sold” (being the operative word) as commonhold?
Let’s go back a step, could a large site such as this even be dev financed as commonhold?
Would any sane developer/lender even chance this for no upside?
No need to answer
“If” this is true then it would be very useful for the values of these commonhold sites to be examined. Apparently flats rise in value less than houses because of leasehold so the commonhold ones should be much more valuable than leasehold equivalents 👍
Agree much work to be done although there are already at least 3 commonhold schemes in England successfully converted from leasehold a couple of decades ago (greater awareness needed) @CommonholdNow @mtpennycook
If we super optimistically assume all your 2.4k followers are leaseholders and there are millions of leaseholders out there, how is that “the many” when it is mathematically and literally “the few” ?
Patience is snapping.
We are the many, they are the few.
Government is meant to work for the people, NOT rent-seekers, middlemen and extortionists.
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“Forcing” people to do things they didn’t sign up for isn’t going to work
The people who then need “controlling” would be the leaseholders, as they inevitably fall out and the whole thing descends into irresolvable chaos. At which point some bright spark would reinvent freehold
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“Millions” is complete nonsense
It would imply 60%+ of leasehold is unsaleable, which is complete nonsense
A big part of why we are in this mess is due to the spread of complete nonsense
Most doesn’t stand up to any sort of scrutiny yet is still adopted and repeated
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Apparently 86% of private flats remain unmortgagable….🤥
The Grenfell Tower Inquiry phase 2 report will be published on Wednesday 4 September.
I imagine that @AngelaRayner and @RushanaraAli have already read it.
7 years on, 600,000 people still live in dangerous buildings and
3 million flats remain unmortgageable.
Time to step up.
This is not a professional environment. We have been on here for around 15yrs and only remain to try and dispel a lot of the nonsense we see and re-educate the realities.
For example, the laws are not mediaeval, they are from much more recent times
This is dangerous. You are advising people to seek advice “before they commit” but not from a lawyer and/or a qualified person but from you. Your qualification/experience being a patchwork of four managing agents in five years
This is exactly why we need regulation.
Please stop
