This is the tea ☕🛢 #PlasticsTreaty talks start on april 23rd!

Sign the petition to tell Steven Guilbeault Justin Trudeau to support a treaty that drastically cuts climate-destroying plastic production for our planet! act.gp/3Q4igbe

👏📽👏 Pattie Gonia

Prior to 1993 there was no such thing as Marriage Value. Freeholders gifted a huge bonus.

Church of England steps into leasehold reform debate

Church of England has said it will oppose the government’s pledge to abolish marriage value as part of its leasehold reforms 🤬🤬

SHAME ON YOU !!!! The Church of England

#LeaseholdScandal
lawgazette.co.uk/news/church-of…

Lots of lobbying in the Lords, inc the shy Grovesnor estate, to lament '£7 billion wealth transfer' to the serfs over marriage value. Let's hope Lord Moylan fluffs his lines

Marriage value was brought in simply as a sweetener during a previous reform package, to make the reforms more palatable to freeholders.

Mark Kleinman There’s already been a 20 year transition!

Keir Starmer Will you abolish #Leasehold and #marriagevalue
My vote will go to the party that serves me best

3/3 Those new rules also require commencement and secondary legislation, which could be derailed by backroom lobbying.

No doubt the ground rent grazers are already whining to Labour.

We await the details of the new legislation with interest.

2/3 Is the price of a cap on ground rents that the variables used to calculate lease enfranchisement and ground rent buy outs will be fixed at the current levels (very) favourable to landlords?

It appears that working every day and a quiz after work Friday and a day trip on Saturday is too much.

I have struggled to get out of bed today and I am feeling generally grim.

At 3:45 pm April 20th 2024.
Cally took her last breath.
She was/is my best friend, my daughter, my baby girl, & my caregiver. My heart is broken 💔💔💔. I keep breaking into tears. I feel like a piece of me broke off & fell away. This is her last & final pic.
Goodnight my Cally.

'Recommendations that full design compliance with building regulations should be appropriately demonstrated before construction begins is just too big a step for the industry to make at present'

Hmm...

constructionmanagement.co.uk/building-safet…

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1/3 The issue now is whether this is included in the Leasehold & Freehold Reform Bill and whether that passes before any election.

The new rules will then need to be commenced (given legal effect). Lobbying could stop that, particularly if there is a change of government.

🧵 leaseholders lose negligence claim in County Court against solicitors for failing to advice AST trap stemming from £495 ground rent. Rent also RPI linked every 15 years. Rawdon Crozier🇺🇦 martinboyd womblebonddickinson.com/uk/insights/ne…

Liam Spender Spot on. The freehold for my house was sold for less than £3k in a batch behind closed doors to offshore investors. Cost for me to buy it went from £5k to £40k. No pension fund with RI policy would be investing in ground rents if they knew the human cost.

11/11 Fairhatch GR is part of the Consensus Business Group, a member of the Residential Freehold Association.

10/11 Illustrating the volatility, in its most recent (2022) accounts, Fairhatch records its ground rents are now only worth £34 million, following a revaluation in a much higher interest rate climate and after the CMA forced cancellation of doubling ground rents.

9/11 Ultimately, the £30 billion figure (which doubtless also only looks at gross assets and does not account for taxes due on sale) is pie in the sky.

Give an actuary the right set of assumptions and he can produce any number you want.

8/11 It is these accounting and actuarial techniques that are driving the £30 billion number.

As the Fairhatch accounts record, the key variable is a discount rate is set by reference to the 40 year government bond rate. No company can borrow at that rate.