LAURA McAlpine, Labour Parliamentary Candidate for Harlow and the Villages welcomes the news that Labour sets out a ‘leasehold revolution’ to end leasehold ownership and save home-owners thousands of pounds.
Laura said: “Leaseholders have everything stacked against them. England is one of the only places in the world which has failed to move away from this feudal system.
“We have many leaseholders in Harlow, and too often they are faced with inflated, unaffordable fees, shocking service and restrictive terms of contract.
“It’s right that when in government, we will ban the sale of new leasehold houses and flats, and leaseholders will be able to buy the full, freehold ownership of their home for 1% of the property value.
“These changes will end the current archaic rules that put leaseholders at a disadvantage. For a property in England priced at £250,000 with a 90-year lease, Labour’s proposals could mean the cost of buying the freehold is slashed from over £10,000 to £2,500 – a saving of almost £8,000, plus expensive legal fees.”
The report released today sets out radical plans to end leasehold ownership of houses and flats, with wide-ranging proposals to give hard-pressed leaseholders new rights and save them thousands of pounds.
At least 4.3 million homes across England are owned on a leasehold basis, with many leaseholders facing exploitative ground rents, onerous contract terms and arbitrary fees paid to their freeholder.
Commenting, Labour’s Shadow Housing Secretary, John Healey MP, said:
“Leasehold is a symbol of our broken housing system, with millions of England’s homeowners feeling like they’ve bought their home but still don’t own it.
“The scale of the problems faced by leaseholders, from rip-off ground rents to punitive fees to onerous contract conditions stating what they can and can’t do to their own homes, demands wholesale change. We need a revolution in rights for leaseholders.
“This consultation document sets out the next Labour government’s ambition end the broken leasehold model for good.”
Harlow Council Leader Mark Ingall added: “For too long building houses, renovating houses, renting, buying and selling houses, leases for houses and legal work around houses has been about making profits. Labour are interested in building homes for people, truly affordable homes, built to the highest standard that provide secure long term accommodation for families to live in and bring up their children in.”
Popularity: 1% [?]