Leasehold sale ban confirmed

A multi-billion pound housebuilder has come under fire for misleading prospective buyers over the legal status of their homes.

Homebuilders have become embroiled in a storm of criticism over the sale of new properties on a leasehold basis where buyers are locked into potentially ruinous obligations to pay rising ground rents for decades to come.
The practice has been widely condemned – and yesterday the government confirmed it will ban such leasehold sales.
Redrow has until now avoided the brunt of the backlash against developers, but residents at one of its estate in Lancashire have raised the alarm over advertising that claims houses are freehold – when they are not.
Freehold is the “gold standard” of home ownership. Properties bought under leasehold terms are at the whim of freeholders

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