Plans To Abolish 'Feudal' Leasehold System In England And Wales Dropped

[e3sa934]

Article in The Guardian, 10 May 2023

"Plans to abolish ‘feudal’ leasehold system in England and Wales dropped.  Row between Michael Gove and No 10 results in end of promise to scrap leaseholds"

https://www.theguardian.com/money/2023/may/10/plans-abolish-feudal-leasehold-system-england-wales

[Annie Bynnol]

    Leasehold will continue under Torie.

    Leasehold reform in England and Wales has been watered down to appease Tory financial backers and Michael Gove(Housing Minister) has been told that the Government will renege on their promise to abolish 'leasehold'.

[fools]

to appease backers, or because they'd get trounced in the courts trying to implement retrospective law without compensation

[Annie Bynnol]

12 minutes ago, fools said:

to appease backers, or because they'd get trounced in the courts trying to implement retrospective law without compensation

   More to do with large developers having included modified leases which are inflation proofed, into their business plan. They would lose out if 'commonhold' was introduced. Many of these 'financial products' are profitably traded.

[geared]

Are you in the least bit surprised?

 

of all things, did you really expect the Tory party to step up and solve this issue for the public?

[Arthur Ritus]

I have never understood buying a flat, buy a house and the building is yours and your responsibility ridge tile to footing, when you buy a flat what are you actually buying. Do you own walls, roof, floor? who owns the joist that support upstairs floor and your ceiling, if you need to access the services running in your plastered ceiling do you pop upstairs and say just pulling your carpet and floor boards up, not be long?  

[Guest]

10 hours ago, e3sa934 said:

Article in The Guardian, 10 May 2023

"Plans to abolish ‘feudal’ leasehold system in England and Wales dropped.  Row between Michael Gove and No 10 results in end of promise to scrap leaseholds"

https://www.theguardian.com/money/2023/may/10/plans-abolish-feudal-leasehold-system-england-wales

No surprise.  Almost every political promise gets broken by our government and Labour are almost as bad.

[crookesey]

We pay circa £6.00 p/a for our home that is on a 900 years lease and don’t lose any sleep over it.

[Jeffrey Shaw]

Leases are not 'feudal', anyway. Most writers have no idea how a lease works, let alone what 'feudal' means.

 

But it's true that HMG has announced and re-announced this legislation many, many times.

 

Even when (if?) a Bill is introduced:

a. it will be unavoidably complex;

b. it will take many months before it is ever enacted; and

c. thereafter, the new procedural Rules and Forms will necessitate at least a year or two before it comes into force.

 

So don't hold your breath; and don't decide what to do about anything if you want to wait until then.

Instead, proceed as if there were going to be no new legislation at all.

On 11/05/2023 at 09:52, Arthur Ritus said:

I have never understood buying a flat, buy a house and the building is yours and your responsibility ridge tile to footing, when you buy a flat what are you actually buying. Do you own walls, roof, floor? who owns the joist that support upstairs floor and your ceiling, if you need to access the services running in your plastered ceiling do you pop upstairs and say just pulling your carpet and floor boards up, not be long?  

By definition,  a flat is part of a bigger building. There needs to be communal provision of :

a. maintenance of Common Parts, internal (e.g. halls/staircases, structure,etc.) and external (grounds, access areas, etc);

b. Block Insurance;

c. enforcement against those who default on paying Service Charge for a and b; and

d. properly-maintained financial arrangements.

[Jeffrey Shaw]

Duplicate thread merged here.

 

Edited May 19, 2023 by Jeffrey Shaw