- Majority of new-build houses to be sold as freehold and new leases to be capped at just £10
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Posted 15.10.18
GOV.UK: Article link
The vast majority of new-build houses are to be sold as freehold in a move to tackle unfair practices in the leasehold sector.
The government is launching a consultation on plans to improve the leaseholder sector for would-be home owners, which aims to bring an end to the unjustified selling of new houses as leasehold.
The consultation will also propose that ground rents for new leases will be capped at just £10. On average leaseholders pay over £300 ground rent each year, with some paying as much as £700.
The consultation will also seek views on what are the appropriate and fair exemptions, such as shared ownership properties and community led housing.
To further support leaseholders, ministers have also made it easier for them to form recognised tenant associations by reducing the minimum membership required.
