Prospective retirement

[Steve_uk]

There's a huge difference between Deal and SE London!  The property looks attractive but it only has a relatively short lease left (109 years).  It notes service charges are on a "as and when" basis!?  Would you be better off with freehold?  Plus Victorian flat conversions often come with noise issues.

I thought 80 years was the cut off point? I don't think one can avoid leasehold if one buys a flat.

[Steve_uk]

I must say I'm coming back to Portugal, and this region will not get the searing heat of southern Spain in the summer: https://youtu.be/MBMnh30hJWk

The main supermarket: https://www.google.com/search?q=aljezur+supermarkets&sca_esv=137b759269c363f4&sxsrf=AE3TifNduDO55MBdfBoMOGraKMh7PvA3zQ%3A1751993559949&source=hp&ei=10xtaKiGOI-AhbIPypmkkAQ&iflsig=AOw8s4IAAAAAaG1a5yffNAuz_NarSv6C5SYDgMVxHJq6&ved=0ahUKEwjozabO3K2OAxUPQEEAHcoMCUIQ4dUDCBk&uact=5&oq=aljezur+supermarkets&gs_lp=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&sclient=gws-wiz&lqi=ChRhbGplenVyIHN1cGVybWFya2V0c0io6M_Z7aqAgAhaHhABGAAiFGFsamV6dXIgc3VwZXJtYXJrZXRzKgIIA5IBC3N1cGVybWFya2V0mgEkQ2hkRFNVaE5NRzluUzBWSlEwRm5TVVEyY1ZCaFZIaDNSUkFCqgFPEAEqECIMc3VwZXJtYXJrZXRzKAAyHxABIhtJAeGhxyAPAzJbNviRL1OzKaGWY6GgSPgk8zoyGBACIhRhbGplenVyIHN1cGVybWFya2V0c_oBBAgAEEc#rlimm=1121440000044442568&lpg=cid:CgIgAQ%3D%3D,ik:CAoSF0NJSE0wb2dLRUlDQWdJRFUwLWI0N2dF

[Steve_uk]

Plus it doesn't have a garden.

I wouldn't want a ground floor or a basement flat. The latter might have damp issues and ground floor you're too vulnerable to outside antisocial behaviour.

[Cambridgecutie]

I wouldn't want a ground floor or a basement flat. The latter might have damp issues and ground floor you're too vulnerable to outside antisocial behaviour.

Some flats above ground have gardens. 

[Cambridgecutie]

The Cathedral was very welcoming,  free to go in and free food, it saved me buying lunch, I did give a donation though Steve,  it’s not as distinctive as ELY Cathedral though Steve, that has to be the best I’ve seen.  I love  Architecture and the work that went into the buildings.  Ken Follett’s Pillars Of The Earth, follows the conspiracy and the sacrifice that went into these Crafted Works.

Yeah there's something special about Ely. 

[Cambridgecutie]

Well thank you for planning my life for me. Should I buy an annuity as well..

You forgot to mention the stag and hen parties at the weekend, the railway noise, the paedophile lurking on the second floor and the alcoholic grandma in the basement.

Thought you would have a teachers' final salary pension plus a tax-free lump sum?

[Steve_uk]

Thought you would have a teachers' final salary pension plus a tax-free lump sum?

Well, I do have a lump sum, but I took some time off to care for my elderly parents. Charity begins at home. I am in a better scheme than young entrants, but then, I'm so much older..

[Steve_uk]

Some flats above ground have gardens.

But then the community fees involve employing a gardener. I'm very disappointed with Michael Gove, then Lisa Nandy. It seems leasehold is here to stay.

[Cambridgecutie]

I thought 80 years was the cut off point? I don't think one can avoid leasehold if one buys a flat.

109 years is pretty short in lease terms.  Max is 999 years.  I would be looking for a price reduction.  It costs around 2k to extend a lease. 

I think it said on the details the buyer will be a freeholder in addition to leaseholder. 

Personally I would steer clear of leasehold/flats.  Its currently a buyers market.   

https://www.youtube.com/watch?v=2l0gcita3kw

https://uk.linkedin.com/in/oliver-jones-b3a950102

[Steve_uk]

109 years is pretty short in lease terms.  Max is 999 years.  I would be looking for a price reduction.  It costs around 2k to extend a lease. 

I think it said on the details the buyer will be a freeholder in addition to leaseholder. 

Personally I would steer clear of leasehold/flats.  Its currently a buyers market.   

https://www.youtube.com/watch?v=2l0gcita3kw

https://uk.linkedin.com/in/oliver-jones-b3a950102

I'm glad they cracked down on buy to let.

[Cambridgecutie]

But then the community fees involve employing a gardener. I'm very disappointed with Michael Gove, then Lisa Nandy. It seems leasehold is here to stay.

Some flats have private gardens where the owner/occupier is responsible for the upkeep. 

https://www.gov.uk/guidance/commonhold-property

[Steve_uk]

Some flats have private gardens where the owner/occupier is responsible for the upkeep. 

https://www.gov.uk/guidance/commonhold-property

Although take up so far has been low, new homes can currently be sold as commonhold, and existing leaseholders can convert to commonhold if they all collectively agree and meet certain additional criteria.

It's nigh on impossible to get everyone in the block together at the same time to discuss. The designers of that legislation must know. What the additional criteria are I do not know, but no doubt more hoops to jump through.

[ngb1066]

I thought 80 years was the cut off point? I don't think one can avoid leasehold if one buys a flat.

You are quite right on that.  Anything over 80 years is no problem at all.  In fact less than that is perfectly manageable as long as you get proper advice.  It is all reflected in the price.  As long as you factor it in there is no problem.  Some of the best bargains are shorter leases.

 

[ngb1066]

The Cathedral was very welcoming,  free to go in and free food, it saved me buying lunch, I did give a donation though Steve,  it’s not as distinctive as ELY Cathedral though Steve, that has to be the best I’ve seen.  I love  Architecture and the work that went into the buildings.  Ken Follett’s Pillars Of The Earth, follows the conspiracy and the sacrifice that went into these Crafted Works.

Ely Cathedral is wonderful.  I visited many times when I was at school.  I once saw the Vienna Boys Choir perform there. I was also given a private tour by the head verger there when I was about 13 or 14 years old.  He lived in the close there and was my violin teacher.  He invited two of us and I still remember standing in the octagon looking down which was amazing.  I have a lot of photos which I took when I was doing a school project.

[Hardy Boy]

Ely Cathedral is wonderful.  I visited many times when I was at school.  I once saw the Vienna Boys Choir perform there. I was also given a private tour by the head verger there when I was about 13 or 14 years old.  He lived in the close there and was my violin teacher.  He invited two of us and I still remember standing in the octagon looking down which was amazing.  I have a lot of photos which I took when I was doing a school project.

Its the best Medieval Architecture I’ve ever seen,  the Octagon Tower is considered one of the Wonders of the Medieval World, I think it’s the only building in the UK that is recognised as a Medieval Wonder?  At School we were encouraged to visit Churches and study Archaeology as part of our History Lessons.  I love the area and the surrounding Fens and often wondered why such a magnificent building was built in this location, but when you read the History, ELY was like an Island surrounded by wetland and the high ground made it perfect for refuge and defence.  Have you read Pillars Of The Earth NGB, it’s on Audible as well.