Leasehold 'trap': Hundreds of homeowners launch bid to forcibly buy freeholds

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More than six million properties in England and Wales are leasehold, according to the Leasehold Knowledge Partnership.

Nurse Katie Kendrick is one of thousands who bought new homes on leases, to later discover the developer had sold the right to own their home.

Ms Kendrick said:"I want to own the property that I'm paying a mortgage for. It doesn't sit right with me and it gives me many sleepless nights that somebody else actually owns my property. The other concern for leaseholders is that landowners can impose strict rules on their lease. With homeowners having to pay, sometimes large costs, for anything from changing the carpet to building a conservatory.

It said in a statement:"Leasehold remains a safe and secure tenure for millions of people. No realistic alternative to the leasehold system currently exists for apartment buildings or where residents share facilities, infrastructure or common spaces.

 

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But surely you read the agreement beforehand? I wonder if I can do that with all the loans and finance agreements I’ve had over the years and claim the interest back? Get a freehold mortgage like everyone else surely that will be the judges conclusion!

Ppi ? What are all the call centre staff going to do now ? I know make up something......' I believe you were in an accident recently '.....' Were you forced to buy your leasehold? '

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