Leasehold Reform
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Features
Summed up: letting industry legal changes
The Government chose April Fools’ Day to announce stricter regulations for letting and managing agents – but, says Jeremy Leaf, it’s being taken very seriously.
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Latest property news
Sweeping reform of ‘unfair’ leasehold system to go ahead, says Minister
A promised leasehold reform programme is to go ahead following a consultation process that launched in July. Communities minister Sajid Javid’s new measures to tackle unfair and abusive practices within the leasehold system will see almost all leaseholds banned for new-build houses – except when a property is in shared ownership – and that ground rents for new leases will have to be at zero for both apartments and houses. Sajid (pictured, below) has also revealed that he is to make it much cheaper and easier for the UK’s 1.4 million leaseholders to buy-out their freehold. “It’s unacceptable for home buyers to be exploited through unnecessary leaseholds, unjustifiable charges and onerous ground rent terms,” the minister says. “It’s clear from the overwhelming response from the public that real action is needed to end these feudal practices. “That’s why the measures this government is now putting in place will help create a system that actually works for consumers.” Also, Sajid’s department is to work with the Law Commission to help leaseholders win redress for existing onerous terms and conditions within their leaseholder – which will hearten the many vendors and agents trying to sell properties crippled by such clauses. Grant Lipton…
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Features
10-minute refresher: leasehold extensions
Agents selling flats need to understand the complexities of leasehold extensions, says Michael Zucker BA FRICS, Head of the Professional Department at Jeremy Leaf & Co.
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Features
Love thy neighbour
Falling out with neighbours is a bad idea, says Andrew Symington, so leaseholders need to tread carefully and understand the implications of shared freeholds.
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