{"id":94303,"date":"2018-07-20T17:30:05","date_gmt":"2018-07-20T10:30:05","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-leasehold-system-is-a-money-making-racket-reform-is-long-overdue-sebastian-okelly\/"},"modified":"2018-07-20T18:03:09","modified_gmt":"2018-07-20T11:03:09","slug":"the-leasehold-system-is-a-money-making-racket-reform-is-long-overdue-sebastian-okelly","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-leasehold-system-is-a-money-making-racket-reform-is-long-overdue-sebastian-okelly\/","title":{"rendered":"The leasehold system is a money-making racket. Reform is long overdue | Sebastian O\u2019Kelly"},"content":{"rendered":"


\nThe grisly leasehold sector has enriched itself at the expense of ordinary families\u2019 wealth and securityThis week, the Law Commission fired the opening shot at the murkiest and most lucrative corner of the residential property market: the leasehold system.Leasehold simply means long tenancy and it is unique to England and Wales. When you buy a leasehold property, you own it for a fixed period of time: ownership of the property returns to the landlord when a lease comes to an end. Every other jurisdiction in the world, including those based on English law, have either never introduced it or, as in Australia and New Zealand, have virtually removed it. But it has endured and thrived here: indeed, in 2016, about 27% of residential property transactions in England and Wales were leasehold. It is growing as a form of ownership as our population increases and we have to build flats instead of houses and at higher densities, particularly in the south-east. Continue reading…
\n
\nSource : theguardian.com
\nRead more…The leasehold system is a money-making racket. Reform is long overdue | Sebastian O\u2019Kelly<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The grisly leasehold sector has enriched itself at the expense of ordinary families\u2019 wealth and...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-94303","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-ox1","jetpack-related-posts":[{"id":147338,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ministers-accused-of-dawdling-over-leasehold-changes-in-england-and-wales\/","url_meta":{"origin":94303,"position":0},"title":"Ministers accused of \u2018dawdling\u2019 over leasehold changes in England and Wales","date":"October 9, 2024","format":false,"excerpt":"\r Residents groups call for passing of secondary legislation for Leasehold Reform Act as promised in king\u2019s speechUK politics live \u2013 latest updatesCampaigners have accused the government of dragging its heels over promised changes to the leasehold system in England and Wales, with homeowners still waiting for measures passed by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":136602,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/plans-to-abolish-feudal-leasehold-system-in-england-and-wales-dropped\/","url_meta":{"origin":94303,"position":1},"title":"Plans to abolish \u2018feudal\u2019 leasehold system in England and Wales dropped","date":"May 11, 2023","format":false,"excerpt":"\r Row between Michael Gove and No 10 results in end of promise to scrap leaseholdsWhat is leasehold, and are there any alternatives?Plans to abolish the \u201cfeudal\u201d system of leaseholds across England and Wales have been dropped after a battle between Downing Street and Michael Gove.Gove, the housing secretary, will\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":149684,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/centuries-old-leasehold-system-to-be-abolished-in-england-and-wales\/","url_meta":{"origin":94303,"position":2},"title":"Centuries-old leasehold system to be abolished in England and Wales","date":"March 3, 2025","format":false,"excerpt":"\r Exclusive: Housing minister says overhaul of feudal-era system would take place before end of this parliamentThe housing minister has promised to abolish the centuries-old leasehold system in England and Wales before the end of this parliament, as the government takes the next steps towards an outright ban on new\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":147176,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-to-handle-buying-a-leasehold-property-in-england-and-wales\/","url_meta":{"origin":94303,"position":3},"title":"How to handle buying a leasehold property in England and Wales","date":"September 25, 2024","format":false,"excerpt":"\r Keep an eye on forthcoming changes to the law and be ready to ask the seller to extend a shorter-than-average leaseThere\u2019s no denying that when it comes to buying a home, leasehold ownership has a bad reputation. Continue reading...\r \r Source : theguardian.com\r Read more...How to handle buying a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61856,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/leasehold-in-england-and-wales-is-last-redoubt-of-a-colonial-relic\/","url_meta":{"origin":94303,"position":4},"title":"Leasehold in England and Wales is last redoubt of a colonial relic","date":"July 26, 2017","format":false,"excerpt":"\r Property system was spread throughout British empire but has since been almost completely scrapped in the former colonies The British empire spread leasehold to every corner of the globe \u2013 but now England and Wales remain the last redoubt of a system regarded as a feudal relic everywhere else.In\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":171670,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/leasehold-ban-in-england-and-wales-unlikely-before-next-general-election-minister-says\/","url_meta":{"origin":94303,"position":5},"title":"Leasehold ban in England and Wales unlikely before next general election, minister says","date":"April 30, 2026","format":false,"excerpt":"\r Matthew Pennycook says ending system must be done slowly to avoid hitting housing supply and legal pitfallsA ban on new leasehold properties in England and Wales is unlikely to come into force until after the next election, the housing minister has said, as he defended the government\u2019s piecemeal attempts\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94303"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=94303"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94303\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}