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  1. #1
    Coaching Staff snooky's Avatar
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    Legal but immoral

    http://www.bbc.co.uk/news/business-38827661
    Article on BBC website. I've no idea if this applies in Scotland. Even if it isn't, it's worth knowing about it.

    Another unacceptable face of capitalism?


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  3. #2
    That's brutal. Money grabbing gits.

  4. #3
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by snooky View Post
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    http://www.bbc.co.uk/news/business-38827661
    Article on BBC website. I've no idea if this applies in Scotland. Even if it isn't, it's worth knowing about it.

    Another unacceptable face of capitalism?
    We don't have that system in Scotland. The terms "freehold" and "leasehold" have no meaning in Scots law.

    When you buy a house here , you own it.

    Sent from my SM-A510F using Tapatalk

  5. #4
    @hibs.net private member Mon Dieu4's Avatar
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    Quote Originally Posted by snooky View Post
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    http://www.bbc.co.uk/news/business-38827661
    Article on BBC website. I've no idea if this applies in Scotland. Even if it isn't, it's worth knowing about it.

    Another unacceptable face of capitalism?
    We used to have the feudal system but that was changed around the millennium if I remember correctly from my working in mortgages days

  6. #5
    Jambo Kickback's Flump of the Year 2008 Sergey's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    We don't have that system in Scotland. The terms "freehold" and "leasehold" have no meaning in Scots law.

    When you buy a house here , you own it.

    Sent from my SM-A510F using Tapatalk
    I live in a leasehold property that still has 58 years. Paid off the mortgage last year and the value is circa 600k. I asked my solicitor what the cost would be to get the lease back to 100 years and it's approximately 12k - 15k (maybe 18k tops) which is settled at arbitration unless both parties agree to a fee.

    I knew this when I purchased the property, it's just the fee has multiplied - but so has the value of my property.

    As the thread title states - the Bellway article stinks and it's downright wrong.
    [SIGPIC][/SIGPIC]


  7. #6
    Coaching Staff snooky's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    We don't have that system in Scotland. The terms "freehold" and "leasehold" have no meaning in Scots law.

    When you buy a house here , you own it.

    Sent from my SM-A510F using Tapatalk
    Hallelujah. That's good to hear - thanks, CWG

  8. #7
    @hibs.net private member Pete's Avatar
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    Legal? Immoral? It's downright disgusting.

    The whole way that property and land is dealt with in this country needs looked at urgently. It's getting to the stage where rich land owners in the suburbs are watching the young, casualised workers toil to pay the rent for the flats they own in the middle of the city. Its like workers rights...we're sleepwalking into going back decades.

    It's a shame that the only people who have a passion for solving this issue are absolutely crucified in the media.

    You wonder why.

  9. #8
    @hibs.net private member ronaldo7's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    We don't have that system in Scotland. The terms "freehold" and "leasehold" have no meaning in Scots law.

    When you buy a house here , you own it.

    Sent from my SM-A510F using Tapatalk


    When I moved to England a while back, I kept hearing about houses having 99 year leases. The estate agent soon put me right, and I steered clear when buying.

    Moving back to Scotland was a doddle. Guid auld Scots Law.

  10. #9
    Quote Originally Posted by Sergey View Post
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    I live in a leasehold property that still has 58 years. Paid off the mortgage last year and the value is circa 600k. I asked my solicitor what the cost would be to get the lease back to 100 years and it's approximately 12k - 15k (maybe 18k tops) which is settled at arbitration unless both parties agree to a fee.

    I knew this when I purchased the property, it's just the fee has multiplied - but so has the value of my property.

    As the thread title states - the Bellway article stinks and it's downright wrong.
    What happens at the end of the 58 years? You get kicked out and the freeholder gets the house?

  11. #10
    Quote Originally Posted by CropleyWasGod View Post
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    We don't have that system in Scotland. The terms "freehold" and "leasehold" have no meaning in Scots law.

    When you buy a house here , you own it.

    Sent from my SM-A510F using Tapatalk
    That doesn't half confuse call centres in England when you're arranging a mortgage over the phone.

  12. #11
    @hibs.net private member Peevemor's Avatar
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    The feudal superiority thing wasn't quite the same as freehold/leasehold stuff in Englandshire.

    https://en.wikipedia.org/wiki/Abolit...land)_Act_2000

  13. #12
    @hibs.net private member Jim44's Avatar
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    Quote Originally Posted by MB Crunch View Post
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    What happens at the end of the 58 years? You get kicked out and the freeholder gets the house?
    That seems to be the case. If you buy a house with a relatively short lease it's almost like renting the house, knowing it won't be yours at the end of the day ( great investment,eh? ). What you would have to pay to renew the lease seems to be a lottery.

  14. #13
    Coaching Staff snooky's Avatar
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    Scamsters.

  15. #14
    @hibs.net private member Hibs Class's Avatar
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    Quote Originally Posted by MB Crunch View Post
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    What happens at the end of the 58 years? You get kicked out and the freeholder gets the house?
    There are various options, all set out in law. Certainly isn't the case that you automatically lose your house.
    ​#PERSEVERED


  16. #15
    Testimonial Due Colr's Avatar
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    Quote Originally Posted by snooky View Post
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    http://www.bbc.co.uk/news/business-38827661
    Article on BBC website. I've no idea if this applies in Scotland. Even if it isn't, it's worth knowing about it.

    Another unacceptable face of capitalism?
    Doesn't apply in Scotland although the fuedal system used to do something similar which was abused.

    It's obviously being abused here by some but long leaseholds are sometimes entered into for estate management reasons. I've done a few myself for public sector landowners who want to be able to enforce good standards and control the appearance of buildings.

    Duke of Westminster only sells on longleasehold for this as well as financial reasons. These areas still look great. Compare with Victoria which is a dog's breakfast.

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