Housebuilders are to be investigated over the mis-selling of thousands of leasehold properties after a U-turn by the competition watchdog amid pressure from ministers.
The Competition and Markets Authority (CMA) said it would examine the scandal surrounding new-build homes sold on leases that were subject to substantial increases in ground rents and the charging of “permission fees” for home improvements.
Flawed system leaves leaseholders at risk of exploitation by developers, freeholders and managing agents – urgent reform needed.
Yorkshire Builders lead the way creating a Commonhold development.
Just a small development of 5 apartments, but its another important step that could easily change how houses and apartments are owned.
The government have asked the Law Commission to see how they can further develop the commonhold idea.
leasehold is not a form of ownership