Article

Leasehold Reform making progress slowly but surely!

 

By Rebecca Kibby

A ban on leasehold houses and a cap for requesting management information from freeholders or agents at £200 - to be provided in 15 days!  Participation in the various campaigns involving leasehold reform has been worthwhile, this is great news for consumers. 

Government confirms leaseholds axed for all new houses All new-build homes will be sold as freehold and leaseholds axed, the Government has announced, as part of its plans to tackle unfair leasehold practices in the residential property market. The move is aimed at preventing unfair leasehold practices where home owners are trapped in exploitative arrangements. Secretary of State for Housing, James Brokenshire, also announced immediate action to ban Help to Buy being used to support leasehold houses. In a wide-ranging speech to the Chartered Institute of Housing conference in Manchester, Brokenshire also said that freeholders and managing agents will be required to provide leaseholders with the vital information they need to sell their home within 15 working days and will not be able to charge a fee of more than £200.
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