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Ben
2.8K posts
Ben
@claddingfiasco
CEng, Net Zero. Justice for #leaseholders battling @mhclg (regulatory failure) and construction industry (rogue) #BuildingSafetyCrisis
Katılım Eylül 2011
698 Takip Edilen362 Takipçiler
Ben retweetledi
Repossessions happening already. 29 of 158 flats in our block. Banks can’t recover their loans. End leasehold like you promised FOR EVERYONE @mtpennycook or consequences for Labour & economy will be dire.
Free Leaseholders@FreeLeasehlders
The government calls us naysayers. We’re asking them to keep their promise. End leasehold. For good. This system is destroying lives.
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2.5 years since leaseholders fought for a Remediation Order, with a deadline of June 2024, work is yet to start ⬇️
Unsafe homes, enormous financial and mental harm, lives and life choices completely ruined.
@UKLabour still light years away from getting anywhere close to a grip.
BBC Bristol@BBCBristol
Leaseholders' lives on hold years after legal order bbc.in/4cbnbmw
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We absolutely can ignore it.
We’ve been ignoring it for hundreds of years and we’ll keep ignoring until we no longer can and then we’ll have an inquiry into why it was ignored for so long and once the report is produced we’ll all agree it shouldn’t have been ignored for as long as it has been.
And that ladies and gentlemen is the British state.
Matt Lismore@MattLismore
The negative equity bubble in leasehold mortgages is simply not something we can afford to ignore. Lenders are exposed in a serious and material way to homes in negative equity & it has knock on impacts for the rest of the housing market. End leasehold, raise the values, bring in genuine home ownership for flats in England and wales.
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@GlenSmith174927 @HarryScoffin A lot of flats are valued at zero as a result of the fallout since Grenfell. It is extremely difficult to remortgage. I was a first time buyer who put down 35% on a 2 bed flat. It's been unsellable for the last 6 years and on top of that the service charge has now reached £7k pa
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@LukePollard Terrible take. When your service charges are £4,500 per year, only ending leasehold now will avoid a lost generation.
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For years, I’ve fought for Plymouth leaseholders trapped in "fleecehold" scams and rip-off service charges.
I'm proud to see Labour’s Leasehold & Commonhold Reform Bill. We’re capping ground rents and banning new leasehold flats to give control back to the residents
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What about existing leaseholds? A scandal that’s left millions with tanked ‘property’ values. Lease / Freehold gap untenable, so left trapped in a collapsed market tenure. @UKLabour promised to *end* Lhld, but has proposed legislation that fails to do so, leaving a 2 tier fiasco.
Luke Pollard MP@LukePollard
For years, I’ve fought for Plymouth leaseholders trapped in "fleecehold" scams and rip-off service charges. I'm proud to see Labour’s Leasehold & Commonhold Reform Bill. We’re capping ground rents and banning new leasehold flats to give control back to the residents
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The collapsing value of leasehold flats is not only affecting owners of those flats. The reluctance of owners to take a capital loss is hindering their ability to ‘trade up’ and buy a house. This is being felt up and down the UK property market, weighing on house prices, too.
Free Leaseholders@FreeLeasehlders
.@LondonPriceDrop proves great taste still exists on this app. No leasehold delusions. Follow or stay clueless.
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@NormaCohen3 Many people are willing to take a loss to escape. But there is only so much of a loss someone can take without declaring bankruptcy or at least not in a position to be able to buy anything else.
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The ongoing collapse in leasehold flat values risks eclipsing the US subprime mortgage crisis.
Many of our supporters are in negative equity.
I was pleased to join Stephen Galpin on Bloomberg TV’s Property Matters, addressing an audience of influential decision-makers, including C-suite executives, institutional investors, traders, and portfolio managers.
This is a major financial story, and it isn’t going away any time soon.
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The leasehold system is legalised extortion.
I know the whole system feels broken, so many residents in Stratford and Bow have told me their own frustrating experiences.
Labour promised to abolish this broken system. That’s what l’ll keep pushing for👇🏾
eastlondonadvertiser.co.uk/news/25991508.…
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Didn't realise how fucked leasehold has made the market in apartments.
Saw a flat in Watford: nice development, 10 mins from Watford Junction, nice part of town. Small gym and a pond but nothing special.
Ground rent: £350pa
Service charge: £4450pa
Sold in 2020 for £350k, on sale now for £260k.
A £90k loss. Imagine the negative equity.
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Because we don't support, worse, we demonise our entrepreneurs.
The specifics of my case are unique, but the generalisation is not.
I built a startup, sold it to a bank and bought my first home. Unfortunately, my first home is so defective that it's cost me seven years of my life and £500k in legal and expert fees.
My MP, Keir Starmer, who should support entrepreneurs, was strong in opposition but folded like a cheap deck chair upon taking power.
What is the point of working hard, disproportionately paying into a system, and then not being able to rely on that system when you need to?
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@theipaper @Victoria_Spratt I know 2 couples (shared owners) who told me they've had to give up starting a family because they're unable to sell their unmortgageable 1-bed flat.
The govt "solution" is to sublet - at a loss! - for an unknown number of years, making their financial situation even worse.
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Emma, my life is wicking away, trapped with no date in sight for the scrapping of marriage value. It was in your manifesto, please just get it done. Can't sell, can't change mortgage.
Emma Lewell MP@EmmaLewell
Labour is tackling the cost-of-living crisis for leaseholders🌹 Every year homeowners pay £600m to freeholders in ground rent 🏘️🏠🏡 Labour's Commonhold Bill: - Caps ground rents at £250 ✅ - Reduces these to a pepper corn after 40 years✅ - Ends the scandal of a forfeiture ✅
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@LostInSW19 @SharedOwnersNet 😢 I live this and I am really struggling with seeing any light at the end of the tunnel. Fighting 3 fronts - leasehold issues/GR, building safety issues and heat network issues, it drains the life from you.
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@FreeLeasehlders I never had any doubt that these companies would move heaven and earth to protect ther profits. To hell with people. I’ve seen some of the most disgusting entities in my own experiences with leasehold. Odious. Good to see the law putting their interests over our human rights.
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What's crass& offensive is that no one has gone to prison for #Grenfell.
No one's been fined for putting dangerous #cladding on buildings.
What's crass is @UKLabour wooing developers while forcing their victims to pay to fix the #BuildingSafetyCrisis @mtpennycook. YOU r the govt!
Matthew Pennycook MP@mtpennycook
Crass and offensive even by his low standards.
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Our biennial service charge has landed. It’s up by 9% since October, and 230% since we bought
Our flat is on the market for 30k less than we paid in 2014. No one is clicking on the listing. This is happening across the capital.
@UKLabour continues to drag their heals on reform
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@mtpennycook @cagey_optimist Ok so set a time limit - all leasehold must revert to commonhold, say 5-7 years. If not u have 53-67% of leaseholders voting against Labour i London , that's a 15% of Labour MPs in the UK .. imagine if that happens in Manchester, Sheffield etc . Could be 34% of MPs out
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