Thursday, 21 December 2017

Leaseholds banned on new-build houses in England, government announced

People buying new-build houses in England will no longer be obliged to enter leasehold agreements, the government has announced.

Anyone buying a flat - or a house - on a lease of longer than 21 years will also not have to pay any ground rent.

Critics described the new measures as "incredibly weak".

The announcement follows revelations that thousands of people buying new homes have been subject to what the government called "feudal practices".

In some instances ground rents have been doubling every 10 years.
In other cases homeowners found their freehold had been sold to investment companies, and they were being told they would have to pay tens of thousands of pounds to buy it.

BBC            News.

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