Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.