More than 100,000 homeowners find their houses effectively unsellable Some unfortunate owners have seen their ground rents doubling every year Sajid Javid has announced an eight-week consultation on the vexed issue Builder Taylor Wimpey has set aside £130 million to deal with legal claims Plans to end the scandal of toxic property leaseholds were in disarray last night.
Developers set to be banned from selling new-build homes with leases It can force buyers to pay yearly ground rents that can double every decade Government report showed one in five private homes in UK are leaseholds Ministers pledged to end the ‘unacceptable exploitation of homebuyers’ Developers are set to be banned from selling new-build houses with leases that end up costing families a fortune.
Firm is first major lender to impose strict caps on what developers can charge It follows the Mail’s campaign against landlords who charge rip-off ground rents Firm will stipulate a minimum lease term of 125 years for flats and 250 for houses One of Britain’s biggest lenders has launched a move to crack down on the sale of ‘toxic’ leasehold homes.
William Waldorf Astor IV, 38, runs two companies who own freehold contracts He is married to former model Lohralee and lives in a £3.3 million town house His company rakes in cash from thousands of leaseholders each year Katie Kendrick may take Mr Astor’s company HomeGround to a tribunal She cannot afford the leasehold on her Cheshire home after it was sold off Frankly, it’s a safe bet that the Honourable William Waldorf Astor IV and his wife Lohralee, a toothsome former model, are untroubled by the property worries that keep most thirtysomething parents awake at night.
‘Leasehold has been a traditional part of the housing market…but there are areas where urgent reform may be need,’ the Government says Its recent Housing White Paper suggested how some house-hunters are unaware when they buy a leasehold property about increasing costs One measure suggested by the Government to fix what it called ‘the broken housing market’ is to help leaseholders – in particular, with the rising costs they often face.