Property & Mortgages

Leaseholds on new-build homes to be outlawed

Developers are set to be banned from selling new-build houses with leases that end up costing families a fortune.

Ministers are drawing up plans to outlaw the ‘feudal’ practices of builders who sell new houses with leases, forcing buyers to pay a yearly ground rent to the freeholder.

Some of these fees can double every decade, crippling homeowners and making the property almost impossible to sell on. The proposed clampdown came as government figures showed the true scale of the leasehold scandal blighting the lives of millions of families.

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