The National Association of Estate Agents has welcomed the government’s move to ensure most future new-build houses are sold as freehold with ground rents for new leases capped at £10 per year.
Yesterday we reported that Housing Secretary James Brokenshire MP would today launch a consultation on the plans, in addition to seeking views on “appropriate and fair exemptions” such as shared ownership properties. In addition, landlords will in future be required to provide contact information of eligible leaseholders to the secretary of the residents’ association within four months of the request, providing that leaseholders have expressly consented to their details being shared.
Now a statement from the NAEA welcomes the move with chief executive Mark Hayward saying: “Thousands of homeowners across the country are facing escalating ground rents, charges for making alterations to their properties and unable to sell their home. Therefore, it’s only right the government looks to crackdown on unfair leasehold practices to stop even more people feeling trapped in homes they cannot afford to continue living in.”