The consultation was prompted by increasing public unease over several aspects of the leasehold
system, particularly the position of buyers of new-build leasehold
houses and those in flats where the ground rents could increase significantly over time.
But when he tried to make the purchase, he claimed the leaseholds
on The Rise were about to be sold to an "investment company".
The all-party parliamentary group on leasehold
and commonhold reform managed to secure the debate and used it as an opportunity to highlight leasehold
abuse and to push for reform.
This has left some homes potentially unsellable with some lenders picky about leasehold
paying Many homebuyers who bought properties from the builders between 2007 and 2011 were forced to sign a leasehold
contract that contained an outrageous doubling clause.
The company said it expects the payments to customers to be "spread over a number of years", adding: "The process of negotiation with the owners of the freeholds to these leasehold
properties is ongoing.
Communities Secretary Sajid Javid has set out plans to ban new build houses being sold as leasehold
as well as restricting ground rents to as low as zero.
ST) announced today the sale of the leasehold
Duvan 6 in Stockholm to Mengus and the leasehold
Lammet 17, also in Stockholm, to Slussgarden.
Residential property specialist Steve Lewis from solicitors Needham & James said that most owners of such properties had a legal right to extend their leasehold
- and should do so now or face difficulties when it comes to selling the property.
Some of those we featured say that while a ban on new leasehold
sales is good news, the Government needs to help those already facing higher costs as a result of leaseholds
Mr Javid said: "It's clear that far too many new houses are being built and sold as leaseholds
, exploiting home buyers with unfair agreements and spiralling ground rents.
Describing the present law as in "dire need of reform", their report states: "England and Wales are almost unique in maintaining the quasi-feudal system of leasehold