01 Jul All new-build houses will be sold as freehold
All new-build houses will be sold as freehold to help put an end to unfair leasehold practices, the Communities Secretary has revealed.
These new measures announced are all part of the government’s plan to stop freeholders and managing agents taking as long as they want and charging unreasonable prices. It will provide leaseholders with the information they need to sell their home and also introduce a new time limit of 15 working days and a maximum fee of £200 to make the home buying process quicker, cheaper and easier.
Homes England has been instructed to renegotiate Help to Buy contracts to explicitly rule out the selling of new leasehold houses. Where buyers are incorrectly sold a leasehold home – saddling them with a property that could ultimately prove difficult to sell – consumers will be able to get their freehold outright at no extra cost.