Property News · July 29, 2017

We have to end the horror of this feudal leasehold system


We could publish horror stories every week – and not just on doubling ground rentsThe entire parasitic structure of leasehold in England and Wales is, finally, beginning to wobble – and with a bit more prodding we could see it crash. The long campaign led by Sebastian O’Kelly at the Leasehold Knowledge Partnership has had its first success, with the government proposing a ban on new leasehold houses, while new flats will see ground rents cut to zero. But we need to go much, much further.We could publish horror stories about leasehold every week in Guardian Money, which have nothing to do with the issue of doubling ground rents. Take the apartment owners held to ransom when their lease starts falling below 80 years. Avaricious freeholders make absurdly inflated demands to award a lease extension, safe in the knowledge they hold all the negotiating cards. Continue reading…

Source : theguardian.com
Read more…We have to end the horror of this feudal leasehold system

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