Property News · November 29, 2016

Government promises to stamp out abuses of new-build ground rent scandal


Sajid Javid pledges to ‘do more’ as Guardian campaign reveals that some buyers of new-build homes face ground rents which double every 10 yearsThe government has promised to “stamp out” abuses highlighted in a Guardian campaign that revealed how some buyers of new-build homes have been left with virtually unsaleable properties because of rapidly escalating ground rents.Many buyers of new-build homes, particularly in the north west of England, have been sold their properties on a leasehold basis. Traditionally homes have been sold freehold, but new-style leasehold homes come with ground rents that in some cases double every 10 years. Residents are facing rising costs, or struggling to sell their properties when they want to move. Continue reading…

Source : theguardian.com
Read more…Government promises to stamp out abuses of new-build ground rent scandal

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