We are delighted to hear Money Box has broadcast an article based on the experiences of a pensioner who bought “freehold” to avoid leasehold on a new build development. Later she started to learn of the pitfalls, and is horrified to be sitting on a bomb!!
We have contacted the program offering to provide them with more information/evidence from our substantial membership. They have responded positively and have promised to talk to us before any future items are broadcast.
You can listen to the program broadcast first on October 5th 2019, on BBC Sounds at https://www.bbc.co.uk/sounds/play/m00092tk . The section starts just before 16 minutes in. Some excellent advice on what to ask during purchase by Beth Rudolph of the Conveyancing Association.
She advises potential purchasers to ask for “material facts disclosure” on the property along with estate maintenance budgets for the next 3 years plus management plans for the next 5 years. Our collective experience is that if people did ask these questions, the sale of new build homes on privately managed estates would dry up almost completely.
