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E & J Estates – Leasehold Issues. James Tuttiett has made millions through ‘exploitative’ ground rent fees.

28 Aug
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E & J Estates – Leasehold Issues.

James Tuttiett has made millions through ‘exploitative’ ground rent fees.

I would suggest you check who owns your freehold before you buy a leasehold property. If you can avoid leasehold and own the freehold yourself then this is the best scenario.

I have posted this article to help shed some light on his terrible leases. I waited for 2 years for a property to go through probate and go through Sam Hawking & Co solicitors. Sam Hawking & Co Solicitors are the worst I have ever dealt with. So slow and so many promised deadlines they passed onto the estate agent which were never met.

So after waiting all this time and almost buying the property my Solicitor “Coles Miller” advised me of the issues regarding the lease on this property. I am very happy with their help and with my final decision of walking away from the purchase.

I must say the original ground rent was £40 a year on the old lease which was affordable and had no multiplcation or increases stated. The new lease will be £180 and double every 25 years or could be worse due to the RPI. So therefore I walk away. I feel sorry for anyone who owns these properties as they will have trouble selling them for sure.

This may help people in the future or give a rough idea of the terrible lease terms you could be issued by E & J Estates.

Further to the recent correspondence, in connection with the problems on the lease of this flat, in
particular the question of the ground rent, I have now heard back from the seller’s solicitors advising that
the landlord will not agree to incorporate into the new lease the necessary provisions to ensure that the
lease does not fall foul of problems that have recently arisen in a major Court Case regarding leases with
increasing ground rents. We have asked that the wording in the new lease is amended to incorporate an
appropriate provision to exclude the lease and the flat from the consequences of the fallout from this
particular Case, which would simply involve incorporating into the new lease a proviso that at no time will
the ground rent rise to a level that would make the property unfit to mortgage. The solicitors have now
come back to inform me that the landlord has declined this suggestion for the rent review provisions but
they have instead proposed that the new ground rent will be at £180 per annum increasing every 15
years by either a further £180 or by the increase in the retail price index, whichever is the higher. This
does nothing at all to solve the problem and in fact it means that the rent would increase every 15 years
instead of every 25 years which was the initial offer. The only difference is that originally the ground rent
would have increased by double its previous figure. Unfortunately, this revised offer is still not going to
solve the problem

 

I believe E & J stands for: Eyre & Johnson. (E&J Estates is a trading style of Eyre & Johnson Limited)
https://www.google.co.uk/search?q=eyre+and+johnson&ie=utf-8&oe=utf-8&client=firefox-b&gfe_rd=cr&ei=V1SkWYfrLob38Aei3bmQDQ

Company Website:
http://eandjcapitalpartners.co.uk

james_tuttiett

James Tuttiett

Ref:
Wikipedia Article
https://www.thesun.co.uk/money/4175742/fatcat-boss-involved-in-leasehold-scandal-lives-in-one-of-his-companys-newbuild-homes/
https://www.leaseholdknowledge.com/tag/james-tuttiett
http://www.dailymail.co.uk/news/article-4744946/The-tycoon-owns-freeholds-40-000-homes.html
https://www.theguardian.com/money/2017/jul/29/leasehold-tycoon-man-whose-firms-control-40000-uk-homes
https://www.leaseholdknowledge.com/james-tuttietts-tangled-web-ej-freeholds-scrutinised-guardian
http://www.bizdb.co.uk/company/james-tuttiett-developments-limited-02197440/

Daily Mail reports E&J Estates and wine-growing freeholder James Tuttiett

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