A Bolton MP has welcomed radical new proposals to cut out unfair abuses of leasehold.
Bolton West MP Chris Green, who is a member of a cross-party group on leasehold reform and has raised the issue in Parliament, has said that the move will be welcome news to homeowners in his constituency. The plans will ban new builds being sold as leasehold, as well as restricting ground rents to as low as zero.
Now the MP wants to see action to help current homeowners who have already signed up to expensive leases and has pledged to continue working in Parliament on the issue.
Chris said: “I’m really pleased that the Secretary of State has listened to the concerns I have raised on behalf of homeowners in Bolton West & Atherton and will be putting an end to the leasehold scandal going forward.
“I have heard horror stories from my constituents who are tied into extortionate leases, with some of them doubling every few years.
“Now we need to look after people already caught up in the leasehold scandal and I’ll be continuing to work in Parliament to try and find a solution.”
Historically, leaseholds generally applied to flats and some houses in the North West, but on peppercorn rates. However developers – particularly in the North West – have been increasingly selling houses on legally obscure and extortionate terms.
Communities Secretary, Sajid Javid said: “It’s clear that far too many new houses are being built and sold as leaseholds, exploiting home buyers with unfair agreements and spiraling ground rents. Enough is enough. These practices are unjust, unnecessary and need to stop.
“Our proposed changes will help make sure leasehold works in the best interests of homebuyers now and in the future.”