Add Your Idea

Right to Buy, Section 20 Major Works to Leaseholders

Comment 26th August 2010

To change the lease and take out the clause of section 20 for major works be charged to leaseholders.

Why does this matter?

The seller decided to sell the flat in receiving the rent money in a lump sum by selling the property. The buyer decided to buy with complete freedom and not having to pay rent on a pay as you go basis. Once the seller receives the money they have absolute freedom to invest and make more capital. Not to mention all major repairs cost is already within the sale amount. To break it down:- As a tenant they don't pay additional lump sum instead after the works is done a possible little rent increase may happen and where as the leaseholder already paid a lump sum then is having to pay service charge, ground rent, insurance, water rates and all repairs internal and immediate external. So ultimately it is a complete loss. There needs to be a review in the system as residential leaseholders who bought the property to live in shouldn't be treated the same as the commercial leaseholders. Buying a leasehold property makes you loose you LIBERTY and choice to financially manuovere. It shouldn't be like this and instead motivate people to earn money and excel in life rather than stay on on benefit. IT IS A DOUBLE OR TRIPLE CHARGE!!

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

Highlighted posts

Comment on this idea

Good idea? Bad idea? Let us know your thoughts.

Back to top
Add Your Idea