Persimmon Share Discussion Threads

[kreature] 07/4/2024 13:13

Should I buy one one these ? :

‘New-build owners told to sign NDAs to see details of soaring estate charges
EXCLUSIVEHomeowners tell i they don't know where their money is going as they face soaring mandatory charges for services such as grass cutting’

[kreature] 03/4/2024 16:33

From now on, no mentioning unregulated uncapped management estate charges in the deeds. Agreed?

[kreature] 03/4/2024 08:39

Anyway, sorry for annoying you. Will take a look at the positives in new builds

[kreature] 02/4/2024 21:43

Perhaps the Home Owners Alliance summarises it best here:

[pander45] 02/4/2024 21:09

Better than dealing with one dimensional monosylabic morons such as you. You have no class, or intelligence to back up your assertions which are clearly biased and arranged on the group daily for your personal gain. You are just a keyboard weasel, ferreting around, not unlike an unpleasant disease, to perpetually advertise your warped narrative on the housing market.

[kreature] 02/4/2024 16:55

Management companies ‘appended to the deeds’ is absolutely how it is typically with new build. Typically that being Unregulated and Uncapped estate charges, and other such onerous covenants in the deeds. Therefore the freehold is possibly not free from hold. Hence why many MPs are call them ‘Fake Freeholds’ or fleeceholds. The issue is that management companies could choose to act with impunity and harm the capital value of the house by increasing the annual estate charges. And there is no right to redress unless via the courts.

Estate home owners taking over the estate management is not a great solution imv because the residents are still responsible for the public spaces, and still have to pay the full council tax, and probably worst of all, the residents would be forced to deal with each other, rather than the local authority.

[pander45] 02/4/2024 16:02

Incorrect and ill informed again. Residents can form a majority co-operative in many cases and remove and replace the management service provider. Do you actually know what you are talking about, or are you just mindlessly guessing? This route has been adopted by many estate dwellers across the country, including mine.

[kreature] 02/4/2024 09:03

“ appended to the deeds “

ie, horrific

Imo

[kreature] 01/4/2024 00:36

‘ Inadequate solicitors advice possibly leading to homeowners trapped by ‘fleeceholds’ ‘

‘ The contract in place appears to be appended to the deeds or form part of the contract of purchase. Therefore, could conveyancing solicitors be answerable for their clients’ suffering?’

[kreature] 31/3/2024 19:44

‘ The Competition and Markets Authority (CMA) has also recommended ending the private estates model, which has been used by for 40% of all new builds across Britain in the last five years ‘

I thought is was 80% so called ‘fake freehold’ , not 40% ?

[kreature] 31/3/2024 18:35

You can fix poor quality workmanship
But looks like nothing you can do about a management company inside your deeds.
Other than perhaps sell up and hope to find someone as naive to buy with an equally negligent lawyer ?

[sikhthetech] 31/3/2024 14:48

New homes poor build quality.

Others have raised concerns over poor quality new builds for a while.
Also concerns mentioned by CMA



"A Competition and Markets Authority (CMA) report, published last month, has raised concerns about the build quality of some new homes, and a petition has been set up calling for government accountability for substandard housing and infrastructure."

[sikhthetech] 31/3/2024 14:11

Backs what Kreature has been saying for a while about 'Fleeceholds'


We had onerus ground rent scandal
Fire safety/cladding.
Help to Buy.
CMA investigations.

Now 'fleeceholds'
as well as poor quality builds.



Housing estate 'fleeceholds' the next great scandal, Tory peer warns

"A Conservative peer - and ex-adviser to Boris Johnson - has warned "fleeceholds" will be "the next great scandal" to hit the housing market.

The term is used to describe the plight of homeowners on new-build estates locked into private maintenance contracts for communal areas."

[kreature] 26/3/2024 09:33

Is the second hand housing market stalling? No problem getting a next day appointment with estate agent. Estate agents sounding polite on telephone, a red flag imo. Anything renovated with the sun in the garden sells, but the vast majority of rubbish just sitting there imv

[onehanded] 21/3/2024 08:22

So will see be no rise today on interest rates, BUT the forecast will be for June. Chance to get in early before the big funds start to build. Any shorts will be closed and will be buying. Medium target £15, longer term £18 to £20. Watching and buying on dips.

[cupra kid] 20/3/2024 13:33

More and more sites that I'm visiting are saying very similar things. Sales steadily increasing, volumes picking up.

[onehanded] 20/3/2024 08:34

Going to test £15 mark on next interest news, as a cut now being pencilled in for June. Yes been under pressure but looking forward going to be a steady rise as the housing market starts to recover into 2025. Rather be buying now and holding than waiting for interest cuts. So a medium term view should be very profitable.

[kreature] 19/3/2024 13:13

Investigation red herring. Real issues is the so called ‘fake freeholds’ where management companies can destroy capital value by increasing estate charges
Imo

[sikhthetech] 19/3/2024 12:47

As expected, another bad TU from another HB.

The sector newsflow has been as expected.

HBs have been paying dividends, resulting in cash dwindling, whilst demand is subdued. That is not a good policy.

If there's huge demand in the UK for property then why are they building less?

HBs say they are building less because of planning constraints. They didn't have problems with planning when demand was high.


Reservations still low.

The CMA investigation into HBs shows what the current state of housebuilding is.


Crest TU:

"Build activity in the sector continued to operate at a lower level"


Pre 2019 completed sites

Since the publication of the FY23 results, the Group has become aware of certain build defects predominantly on four sites that were completed prior to 2019 when the Group closed its Regeneration and London divisions. These sites will require remediation over the next three years at an estimated cost of up to £15m. As a result, the Board has decided to appoint third party consultants to provide greater assurance on the adequacy of current provisions around these and other sites completed prior to 2019. A further update will be provided at the Group's interim results in June.

Outlook

The Group continues to focus on optimising value and expects FY24 completions to be in the range of 1,800 to 2,000 homes, with completions weighted approximately 35/65% in favour of the second half of the year, reflecting the opening order book and the low level of reservations in the first two months of the financial year.

[kreature] 18/3/2024 15:52

What cash is that then ?

[ymaheru] 18/3/2024 11:22

@kennewil, I went to see a house this wknd that was only advertised Fri. They’ve had two offers already and I’m likely to offer aswell.

The worst of the economic turbulence seems over, so people are ready to spend their cash again it seems.

[kennewil] 18/3/2024 09:28

https://www.theguardian.com/business/live/2024/mar/18/uk-housing-market-spring-revival-asking-prices-china-real-estate-stock-markets-ftse-business-live

[kreature] 15/3/2024 09:16

Not sure if this would be of interest to you guys?

‘ "Residents are being left high and dry.’