Re: Estate agent speak ...
 

Thank you. It's not a view you'd ever get bored with (notwithstanding my boredom this afternoon). ;)

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Lovely jubbly :)

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Of course, sometimes it looks like this. Fog on the Tyne is all mine.

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With such fantastic scenery
You could never feel meanery


Shaddap, I did my best :frown:

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Nice!

Very modern looking... Do you have all your beautiful old pieces tucked away in France or did you not ship anything?

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What we did ship in terms of furniture (which was very little) is indeed in France.

We're not finished getting stuff for this flat but we decided to start again from scratch. It's fun pretending that we're young professional yuppies.

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...and there's a bus stop just behind the view which means we can be in the centre of Newcastle in 9 minutes, for free because we're wrinklies. :thumbup:

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I came to the UK after about 50 years since my teens. Searching for a place to buy was a nightmare-it had to be cash as nobody would give me a mortgage.


I ruled out a house, as I am away a lot-so decided on an apartment. Looked everywhere from Cornwall east to Kent and up to the North West. Every thing for sale, new or not, was leasehold-which I find bonkers. The notion of paying hundreds of thousands and never really owning the place, and losing all property/leasholder rights after 125 years (yeah, I know) just the right to live there really upset me.


Anyway, I eventually found a brand new place, by the sea, with a balcony, which I could just about afford. The process of buying the lease, because that is all I really own, was ridiculous. First I asked the realtor for a copy of the lease before I committed. That will be 500 pounds. I bit my tongue-refusing to pay would have been meaningless as all such leasehold sales have the same conditions-you can look, but you have to pay, and there is no refund if the terms are not to your liking.


1900 pounds for the lawyer, and to add insult to injury, another fee of 200 pounds for an official printed copy of the lease. Rent collector England at its finest.


Anyway, I eventually settled in, and I have to say, it is really well-built to what I think is a much higher standard than condos I owned in Canada.


The sour taste is slowly subsiding, and things will only get better when my furniture arrives-apparently it is still dockside somewhere over there.


Hope you enjoy your place in Newcastle.

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If you buy an apartment it necessary must be leashold, as you can't have freehold rights to a property that is separated from the ground by other property that you do not own - freehold means that you own the land. The only comprise possible is that some flats (all the flats in the same building) come with shares in a separate corporation that holds the freehold, of the land the flats were built on, in trust for the flat owners.

I believe the only exceptions in the UK are some legal chambers near the high court in London which have "flying freeholds".

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Your new place looks lovely, great view. Is the quayside Sunday market still in existence, or does even asking the question date me?

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Yes, it still runs. We're further east though and while it's perfectly walkable for us it's a bit less practical if carrying shopping. :nod:

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We were cash buyers. As retirees the last thing we'd want would be a mortgage.


Thanks.

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True. All of the apartments in this building were sold on 125 yr leases in 1992. I think the residual 101 years will see us out.

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The Leasehold Reform Act of a few years ago, gives you the right to buy additional years back up to, I think, the original 125 year lease. The cost is peanuts and worth exploring if you have any interest in the value of the asset - which could become an issue if you become incompetent and your trustees need to sell the flat to pay for residential care.

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I'll look into that. Thanks.