New Figures Reveal Scale of Controversial Leasehold Homes
In July the government proposed a complete ban on the sale of houses as leasehold in England, alongside restrictions on ground rents that could limit them to as low as zero. But the number of leasehold houses in England is significantly higher than previously estimated, according to new government figures released before an expected ban on future sales by developers. The Department for Communities and Local Government said there were 1.4m leasehold houses in England in 2015-16, compared with the previous estimate of 1.2m in 2014-15, following a change in methodology to include socially rented properties. This article from The Guardian looks at the issues and reveals that tens of thousands of homebuyers have also been caught by spiralling ground rents on leasehold properties, which have in some cases left homes virtually unsaleable.