Ban on new-build leasehold houses proposed25 July 2017
Following the the 2017 Government Housing White Paper, communities secretary Sajid Javid has outlined plans to ban sale of new-build leasehold houses - and to wipe-our ground rents on new-build leasehold flats.
Whilst perhaps a welcome change for future leaseholders, this will do little to assist owners of existing leasehold property. Multiple legal decisions have tilted the balance in the favour of freeholders (e.g. Cadogan v Sportelli, Sloane Stanley Estate v Mundy etc.). Combined with the current low-interest rate environment, these precedents have made ground rents attractive investment prospects - and expensive for leaseholder's to escape.
What measures, if any, the Government plans to take to assist existing leaseholders remains to be seen.
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