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Banning the Sale of New ‘Leasehold’ Houses

Story posted: 27.07.17

It has been announced this week that proposals are in place to ban the sale of new leasehold houses which oblige the owner of the lease to pay ground rent to a freeholder, after concerns some buyers are facing, ‘sharply increasing costs for years afterwards.’

In Britain apartments are mainly sold as leasehold whilst houses are generally sold as freehold. However, thousands of houses are now being sold on leasehold, which the government has criticised, seeing this as a partial attempt for developers to boost their profits.   

Communities Manager, Sajid Javid has commented, “Enough is enough. These practices are unjust, unnecessary and need to stop. Our proposed changes will help make sure leasehold works in the best interests of home-buyers now and in the future.”  

Prime Minister Theresa May’s plans are to be introduced to better regulate the property market in England, where currently higher prices and charges such as letting fees have left many younger people unable to afford to buy a home.

“The government launched a consultation on Tuesday into its plans, which include proposals to restrict ground rents to as low as zero and a change to equity loans provided under a government Help to Buy scheme to support new build homes “on acceptable terms.”

According to government data, “30% of the 4 million residential leasehold properties in England in 2014/15 were houses.


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