Question Author
Zacs, sometimes you make me smile.
It IS capitalism. The concept of 'owning' a bit of land, and then renting it out to others for varying periods, is at the heart of our economic system. It's not some accidental byproduct.
Most of the flats on this estate are 'worth' between £250 and £400 thousand. Overpriced of course, but that's London. Some areas are far worse.
In the 1980s when they bought their small flat, it was £25,000, with eighty years left on the lease (99 term). Now, 35 years on, there's only 45 years left, which means that the NEXT buyer would be in dead trouble in 25 or 30 years.
So every so often, the leaseholder (remember all he/she does is keep a bit of paper in a box) cops another largish sum of money for doing nothing, the other winners being, as usual, the lawyers.
What would their lease be worth if they paid up? Damn all. Their flat, on the other hand, would go from say £200 to £300K.
The whole rotten leaseholding system should be scrapped. (No, no benefit to us - we, along with our upstairs neighbours, bought the freehold about 30 years ago).
A