‘Ripped off’ by pricey leaseholds
BUYING a home can be one of the most stressful experiences a person goes through.
And sometimes even when you think it’s over, there are more problems to come.
MPs are becoming increasingly concerned about leaseholds.
When you buy a home with a leasehold, that usually means somebody else owns the freehold. And you may need to obey rules that the freeholder enforces, or pay them a regular ground rent or other fees.
Traditionally, flats have been sold as leasehold properties. But increasingly, newly-bought houses are also being sold as freehold properties.
Washington and Sunderland West MP Sharon Hodgson raised the issue in a debate. She said some constituents were charged ground rent, which can increase year on year.
“Then there are the admin fees that homeowners have to pay when asking the freeholder’s permission to make changes to their own property.”
She said: “I share the concerns of my constituents who feel like they have been ripped off by leasehold contracts and I call on the Government to launch an inquiry.”