Make greedy builders pay for toxic leases

AS the Mail’s exposés have shown, the practice of selling new homes on a leasehold basis is nothing less than a scandal.

Not content with making huge profits from building homes, greedy developers exploited ancient property laws to extract even more money from unwitting buyers.

Buried in the small print were ground rent charges which doubled every decade, and could reach £10,000 a year by 2050.

Many victims had no idea that they didn’t own the land their homes were built on until they tried, and failed, to sell or remortgage. They were then told buying the freehold would cost them thousands.

So we welcome Sajid Javid’s announcement of a ban on rip-off leasehold deals for new homes (although, significantly, he is not promising legislation). This cannot happen soon enough.

What is less clear is what he is doing to help the 1.2million families who already own homes with toxic leaseholds.

Yes, some developers are promising compensation. Clearly, others must do the same. But what about the lawyers who pocketed hefty fees while failing to warn clients of the terrible deals they were signing up to? They also bear responsibility.

One thing is certain: This stinking farrago of greed and deception needs to be dealt with firmly and quickly. Justice demands nothing less.