The new-look commonhold ownership has been spurned by tenants, developers and mortgage companies alike: only one association has been set up so far. Samantha Downes reportsWhen a new form of property ownership, called commonhold, came into force last September, the government trumpeted it as a replacement for Britain’s feudal leasehold system. It would spell the end of disputes with elusive landlords and prevent them from taking the property back when the lease expired.But commonhold has flopped. Property developers and mortgage companies have spurned the new arrangements, and to date, only one known commonhold association has been set up – a small block of flats in Bournemouth. Continue reading…
Source : theguardian.com
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