Commonhold facilitates freehold ownership. In a commonhold development, ownership in the apartment is freehold and absolutely yours.
“A commonhold association is not a business; it is a community"
Commonhold provides a structure which enables the freehold ownership of flats and, as such, offers an alternative way of owning property which avoids the shortcomings of leasehold ownership.
Leading the way!
Hopton Build (Yorkshire) Ltd are liaising with The Law Commission and other interested bodies, and are the only known current builder offering commonhold and pioneering true home ownership for apartments.
Solid Investment. Owning the bricks and mortar will ensure your investment stays safe.
Standardisation. Commonholds have standard rules and regulations which should make conveyancing simpler and cheaper. It should also be easier for homeowners to understand their rights and obligations.
Self-management by the owners. A commonhold is also managed by an association made up of the house and apartment owners. This importantly enables owners to have full control of the costs, overheads and any subcontracted management.
In contrast where flats are owned as leasehold many landlords see it as an opportunity of generating income and extra charges. This is why we believe the future should be commonhold.
Currently, residential leasehold, which doesn't afford actual ownership, is the main way of owning apartments in England and Wales.
Page 16 of The Law Commission "Reinvigorating Commonhold" Summary Report December 2018