U.K. Broadens Crackdown on Archaic Property Leasehold System

Archaic ruins of sanctuary of apollo hylates

A consultation will review the whole process of buying, selling and property management of leasehold homes.

October 23, 2018
Sree Vidya Bhaktavatsalam - Bloomberg

The U.K. government is cracking down on what it called “unfair” leasehold practices as part of sweeping reforms to its housing system, in a move that would modernize the property market to bring it more in line with nations such as the U.S.

Initially prompted by a malpractice scandal, the proposed scope of the focus by the Ministry of Housing, Communities & Local Government has become far broader. A consultation will seek views not only on the practice of charging buyers an annual fee for owning leasehold properties -- known as ground rents -- it will review the whole process of buying, selling and property management of leasehold homes.



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