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To: Rt Hon Sajid Javid MP, Secretary of State for Communities and Local Government

Leasehold New House Builds

Leasehold New House Builds

Stop the unfolding next financial scandal, whereby housebuilders are selling new houses leasehold rather than freehold and then selling on those freeholds to investing companies, who then charge huge sums for the freehold

Why is this important?

A housing development locally is using this to sell houses on their new development and nowhere in their literature do they mention this underhand practice

https://www.theguardian.com/money/2016/oct/29/new-builds-house-buyers-leasehold-property-trap


Reasons for signing

  • We’re trapped by a doubling ground rent on our flat. Sale has collapsed and many potential purchasers cannot get mortgages for it.
  • I'd like to purchase the freehold and then the house we paid for would be ours entirely.I'm prepared to pay a resonable price, not the outrageous amounts being quoted. It's a rip off!
  • My adult children have just bought their first flat with a doubling ground rent clause. I want this bad practice to be escalated and managed to flats as well as houses and eradicated

Updates

2018-05-16 06:34:30 +0100

500 signatures reached

2017-02-17 07:40:13 +0000

100 signatures reached

2017-02-16 23:07:01 +0000

50 signatures reached

2017-02-02 18:37:34 +0000

25 signatures reached

2017-01-17 19:58:00 +0000

10 signatures reached