Housing Minister signals the end to poor leasehold practices

Yesterday, James Brokenshire announced Government plan to consult on improving the leasehold sector, and bring an end to poor leasehold practices for homebuyers once and for all.
The consultation proposes the majority of new houses be sold as freehold, with annual ground rents on new-build leasehold properties to be capped at just £10 – ending unscrupulous practice of unnecessary and escalating charges.
If adopted, the cap will significantly cut costs for leasehold homeowners, who currently pay an average of £300 a year, with some paying as much as £700, according to the Ministry of Housing, Communities and Local Government.

Read the full story at NAEA PropertyMark.

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