Builders face leasehold ban

Communities Secretary Sajid Javid will today confirm a ban on housebuilders selling new build houses on leasehold terms. Firms will also be barred from issuing large ground rents from next year, with developers to be forced to cut them to zero for all new apartments and houses. The Department for Communities and Local Government said it will be “working with the Law Commission to make the process of purchasing a freehold or extending a lease much easier, faster and cheaper”. “It’s unacceptable for home buyers to be exploited through unnecessary leaseholds, unjustifiable charges and onerous ground rent terms,” Mr Javid commented.

Daily Mail, Page: 21 The Guardian, Page: 11 Financial Times, Page: 2 The Sun, Page: 14

Posted 21/12/2017