If they don’t want to pay rent, why then they just don’t sell it?
When ground rent scandal popped out everyone was shocked. People started blaming different persons and companies, they wanted to know who was to be blamed, and who was guilty. Also people started asking questions and finding solutions. One thing they were most interested in is why leaseholders simply don’t sell their house and move to other house? Well, it is not that simple, there are many things to consider, and there are many obstacles to overcome.
Nobody wants to pay too expensive rent
Did ever occur to you that as well as leaseholders don’t want to pay rents and other fees, other people don’t want it too. Thanks to the Internet and globalization everyone heard about ground rent scandal and everyone knows so much about it. Also, one of the first thought they had is that they wouldn’t know what to do if they were in leaseholders’ situation. So why do you think that they would like to buy leasehold house?
It’s too expensive and because of that almost unsalable
The problem is that lenders won’t grant mortgages against homes with huge rent clauses, and also conveyancing solicitors will warn buyers that they shouldn’t buy leaseholder houses because of big risk. Taking all these things into consideration we can conclude that leasehold houses are almost unsalable. Only way to sell leasable house is to provide huge discount and basically you can continue to live there for next 20 to 30 years because it is same for you. This put leaseholders in very uncomfortable situation, because they are in vicious circle and they are not sure how to get out from it.