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    Plans to ban leaseholds on new-builds..

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    papa_umau
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    Plans to ban leaseholds on new-builds..

    Post by papa_umau on Tue 25 Jul 2017, 11:37 am

    "Unfair charges" levied on buyers of new-build houses could be banned in England under a proposed crackdown.

    Leaseholds on new-build houses would be outlawed, while ground rents could be dramatically reduced, under government plans subject to public consultation.

    Ground rents can double every decade, crippling home owners and in some cases making a property impossible to sell.

    "Enough is enough. These practices are unjust, unnecessary and need to stop," said Communities Secretary Sajid Javid.

    Get the whole story from The BBCHERE




    This sounds like a good idea for England, but I do not think we have these problems in Wales and Scotland.

    I will watch how this one develops and keep you all up to date.


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    zathrus
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    Re: Plans to ban leaseholds on new-builds..

    Post by zathrus on Thu 27 Jul 2017, 11:44 am

    Now that's what I call a great idea.
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    papa_umau
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    Re: Plans to ban leaseholds on new-builds..

    Post by papa_umau on Fri 28 Jul 2017, 12:02 pm

    By simply banning leaseholds on new-builds this problem will be wiped out at a stroke.

    I hope that it does happen sooner rather than later.


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    Hell's Granny
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    Re: Plans to ban leaseholds on new-builds..

    Post by Hell's Granny on Sun 30 Jul 2017, 2:50 pm

    I agree; the current thing that builders do is sell the leases to insurance companies and other financial institutions, which jack up the cost of buying the freeholds.

    It is best to either refuse to buy a leasehold home, or factor in the cost of buying it at the same time as buying the house.

    Personally, I feel that this is just another cynical and immoral way of extorting money form the public.
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    papa_umau
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    Re: Plans to ban leaseholds on new-builds..

    Post by papa_umau on Mon 31 Jul 2017, 11:51 am

    The government will have been advised how to do this at the lowest cost to the treasury.

    If lack of cash is filtered into these forms of legislation the legislation itself either falls or it is ineffective when put into practice.

    I think the latter is what is happening here.


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