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  • Leasehold Property

    Consultation announced by government

    From https://www.gov.uk/government/news/crack...-practices

    Communities Secretary, Sajid Javid said:

    It’s clear that far too many new houses are being built and sold as leaseholds, exploiting home buyers with unfair agreements and spiraling ground rents. Enough is enough. These practices are unjust, unnecessary and need to stop.

    Our proposed changes will help make sure leasehold works in the best interests of homebuyers now and in the future.

    Other measures, which are now subject to an 8-week consultation, include:

    • setting ground rents to zero levels – in recent years these have increased significantly, in some cases doubling every 10 years
    • closing legal loopholes to protect consumers – such as leaving some leaseholders vulnerable to possession orders
    • changing the rules on Help to Buy equity loans so that the scheme can only be used to support new build houses on acceptable terms

    You can respond online at https://www.surveymonkey.co.uk/r/leaseholdhouse

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    I know I was involved with the Purchase of a leasehold on a block in which I own a number of flats

    all of the owners came together  and purchased the lease via a company

    The Landlords at the time were very un reasonable it was a huge ticket to print money

    They were con men plain and simple

    so we used the Law to get rid of the Landlord and we now own  one share each in the block

    Its worked well and the block is at a better standard than it had been when it was owned by the old Landlords

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.


    DL, this action is in regard of leasehold houses. I don't think there's any possibility of changes being made with regard to leasehold flats where there is already provision for lessees to act to either extend their lease or purchase the freehold (as you have done) via the LHR+UD Act 1993.

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    The law also allows you to buy the freehold of leasehold houses, but the valuation takes into account future ground rent and with the doubling clauses the value can become excessive.

    With flats you have a right of first refusal when the freehold is sold, but builders can get around that.

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