“Home ownership must never be a dream for a minority. These reforms will help fix our broken housing market for many first time buyers.” Caroline Dinenage MP
Local MP Caroline Dinenage, has welcomed the launch of a consultation to deliver the Government’s reforms to end unfair and unjust leasehold terms for new buyers.
Unfair practices in the leasehold market can prove to be expensive and turn the dream of household ownership into a nightmare. To end this the consultation will assess:
· How the ban on new leasehold houses will work in practice, in what circumstances an exemption will be provided, and how the policy will be enforced;
· Our proposition that the nominal future ground rents for both houses and flats will be £10 per annum, unless there are exceptional circumstances, for instance to support the provision of community-led housing, or housing for older people;
· How we intend to provide freeholders with equivalent rights to leaseholders to enable them to challenge the reasonableness of estate rent charges for the
Commenting Caroline said: “This is excellent news for first buyers in the Gosport constituency as the Government is committed to fixing our broken housing market. It is clear that there are some practices which cannot be justified and I am pleased that the Government is taking action to end this exploitation.”