”The sale of new-build homes under leasehold instead of freehold could be banned, under new proposals designed to end the exploitation of would-be buyers.
People buying homes sold under leasehold, in which the owner buys only the right to occupy and use a property not ownership of the land itself, regularly face unacceptable fees and costs from the landowner, making them hard to sell. Communities Secretary Sajid Javid has said he wants to put a stop to these “unjust” and “unecessary” practises.
Under new proposals, the payment of “ground rents” on new build homes could be banned completely.”
”More than a quarter of the four million Brits who live in leasehold properties, live in houses.”
“It’s clear that far too many new houses are being built and sold as leaseholds, exploiting home buyers with unfair agreements and spiralling ground rents.
This issue has been low-hanging fruit for any government for some time. The cynical among us might think, seeing as the current government are so unpopular, it’s a good time to win a few friends by throwing this bone to the plebs at no cost to the treasury.
The cynical might be right.
Has anyone noticed whose firm has made most out of this scam and it is a scam, well it is one owned by David Cameron’s brother in law, one of the Astor family only one of the richest families in history. And Cameron’s government, privatised the landregistry, sneakily done by George Osborne while everyone was distracted at the time of the Brexit referendum, I wonder why. And shortly after these stories about ground rents going up, suddenly started to appear – and the Astor’s firm have been buying freehold’s by the shed load.
An eight-week consultation period for something as important as this seems extraordinarily short particularly when it’s announced at the start of the holiday period. Or am I being cynical to think that the results could fit nicely with the Tory Party conference?
About time this greedy money grabbing scheme was got rid of, they should go further and freeze the value of the land for the lease term so that house owners can buy the lease at a later date.
About time! This needs to be controlled ASAP as landlords think they can do whatever they want!! I bought new flat around 6 months ago with estimated service cost for next 10 years but after 5 months laondlord/developer sold it to new landlord and I received right after 65% service charge increase!!!! How could this happen? First developer sells flat attracting buyer low service charge for next 10 years then he sells after a months freehold and new one rises 65%, just like that!!
SELLING OFF COUNCIL houses and not replacing them was what was unjust. NOT CAPPING EXTORTIONATE RENTS IS UNJUST. THE AMOUNT OF POVERTY STRIKEN CHILDREN LIVING IN CRAMPED DISGUSTING LIVING CONDITION IS UNJUST. TORIES CAN GO TO HELL.
SELLING OFF COUNCIL houses and not replacing them was what was unjust…and not reinvesting the money from the sales in new houses. A Thatcher ploy!
A Thatcher ploy that labour never altered when they were in power.