Dad. Husband. Reading. Learning. Writing.
London, England
Joined October 2020
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London dad retweeted
LBC are leading the way in highlighting the abuse of occupiers that current leasehold law permits. @HarryScoffin tells LBC that Labour’s failure to block Ground Rents amounts to acquiescence in the financialisation of housing.
“Own nothing and be happy” has quietly become the dividing line in Western politics.
By backing ground-rent grifters over ordinary leaseholders, Keir Starmer has chosen the wrong side of it.
Our interview with @LBC’s Matthew Wright coming soon.
One word…
LEASEHOLD!
“A home seller in London now is more likely to make a loss than anywhere else in the UK for the first time in at least a decade.”
Many will be escaping a leasehold flat.
@UKLabour is fuelling blowback in the locals by stalling on leasehold abolition.
bloomberg.com/news/articles/…
London dad retweeted
What’s going on with @Keir_Starmer?!
In November 2024, @mtpennycook, presumably with Number 10 backing, promised a Draft Leasehold and Commonhold Reform Bill would drop in the second half of 2025.
It never happened, after a last-minute lobbying push by Big Freehold.
Painful from @Keir_Starmer at PMQs.
@RuthCadbury asks when the Leasehold and Commonhold Reform Bill will arrive … and he dodges with rental reform!
Notice how the PM cannot bring himself to say his government will end leasehold, even though the @UKLabour manifesto promises it.
London dad retweeted
On our way back from an interview with @michaelgove.
The former Secretary of State was on fiery form.
Labour, leasehold, the Rule of Lawyers and a generation screwed.
Coming soon!
Many leasehold flats in London have to pay their freeholders the same as the £7.5k surcharge cap the govt is proposing for mansions like that?
Leaseholders get services but ground rents and “consulting fees” to mates of freeholders or “mark ups” to their preferred suppliers can be half of a leasehold flats payments.
Properties like this are holding up in value really well because they are don’t have service charges from freeholders
BUT no space for more of them.
Block of flats in leasehold on the other hand in London have tanked
People say buy a house not a flat.
But here’s the thing…
Houses have always been more expensive than flats and that gap has grown…
In cities where young people disproportionately live there are many more flat than houses….
Just look at London!
So leasehold service charges are huge part of the London cost of living crisis
I had a tenant with a £100k Porsche that refused to pay rent.
Took me ages to get him out.
We own a £5k Renault Clio.
This is not about rich vs poor
It is about abiding by the law
@Madz_Grant
London dad retweeted
Flats are dying in the UK. Service charges are ballooning, and so have ground rents. These are not mansions...
Leasehold flats are where young people live
Leasehold flats are where single retired people in cities live
Leasehold flats are where families that can't afford houses live
Ground rents are passed on in rent to renters.
If all the wealthy landlords want to charge large ground rents for people to live in their homes, why are they not regulated like a bank?
All the corrupt payments, like related party "advisory" services to their mates and "preferred" vendors, would not be allowed if they were regulated like a bank, insurer, or law firm.
@HarryScoffin founder of campaign group Free Leaseholders, said Labour’s reforms should be based on peppercorn rates. “Resale values have fallen and we now have a crisis with the biggest gap in house and flat prices for 30 years,” he said. “Lenders will not give mortgages against properties with escalating and high ground rents, compounding the crisis.”
With sky-high housing costs and the IMF inflation warning, Starmer and Reed must outsmart a Treasury captured by corporate lobbyists and short-term thinking to deliver radical pro-growth reform, crushing leasehold greedflation by peppercorning ground rent. ft.com/content/4ce56221-7940…
Bigger than PPI
.@michaelgove, who spearheaded the Leasehold and Freehold Reform Act 2024, gives government a thumbs-up on its High Court JR win against the freeholder lobby last week.
Surprising @UKLabour isn’t making more of this victory. Lord Gove has done more media on it than any minister!
London dad retweeted
Just thinking. @UKLabour has picked fights with pensioners, farmers and private schools.
But taking on - and winning - the fight with the freeholder lobby would be very different.
Unifying. Popular. Zero downside. And pro-growth to boot.
Come on, Keir! ft.com/content/4ce56221-7940…
Flats are dying in the UK. Service charges are ballooning, and so have ground rents. These are not mansions...
Leasehold flats are where young people live
Leasehold flats are where single retired people in cities live
Leasehold flats are where families that can't afford houses live
Ground rents are passed on in rent to renters.
If all the wealthy landlords want to charge large ground rents for people to live in their homes, why are they not regulated like a bank?
All the corrupt payments, like related party "advisory" services to their mates and "preferred" vendors, would not be allowed if they were regulated like a bank, insurer, or law firm.
@HarryScoffin founder of campaign group Free Leaseholders, said Labour’s reforms should be based on peppercorn rates. “Resale values have fallen and we now have a crisis with the biggest gap in house and flat prices for 30 years,” he said. “Lenders will not give mortgages against properties with escalating and high ground rents, compounding the crisis.”
With sky-high housing costs and the IMF inflation warning, Starmer and Reed must outsmart a Treasury captured by corporate lobbyists and short-term thinking to deliver radical pro-growth reform, crushing leasehold greedflation by peppercorning ground rent. ft.com/content/4ce56221-7940…
Landlords in London have seen MASSIVE increases in costs - service charges have doubled in last few years and are 25% of net rent. Remember landlords have to pay estate agents 11%+ VAT, pay for re-decorating and fixing flats where costs have increased, pay mortgages
Two major exceptions were Citadel Sec started in Chicago in 2002, but originally an offshoot from the hedge fund, and Hudson River Trading (HRT).
HRT is still today "led by coders."
London dad retweeted
⚡🎯 GPU futures could be the next big thing: Volatile as crypto, useful as commodities. Hedge funds want to trade them, big tech needs to hedge them, retail investors want exposure. Private credit firms lending against GPU collateral could create "CCOs" - structured products for the AI age
🚀💰The world needs GPU futures
By @ghose77 buff.ly/ta2aTeq
London dad retweeted
Excellent read by @ghose77 on how "platforms" / network effects businesses compete rupakghose.substack.com/p/wh… and who ends up the winner...