May 16, 2017
According to the 2017 Homeowners Survey 50% of UK adults see the current leasehold system as a very serious or serious problem, up from 42% last year. Paula Higgins, chief executive of the HomeOwners Alliance which carried out the survey said the figures show the scale of the issue.
“From house prices to tightened mortgage criteria and increased regulation there is plenty for homeowners and buyers to be concerned about at present – so for leasehold properties to be the fastest growing concern shows just how much of an issue this has become,” she says.
“Unscrupulous players within the industry have turned what has been a form of tenure for centuries into a money grabbing scheme that has left thousands of buyers across the country trapped in properties that are now essentially unsaleable. Doubling ground rents and unfair clauses are leaving homeowners in a nightmare situation and the government is clearly not treating the issue with the severity it deserves. These people need help and they need it now.”
To help homeowners in the leasehold trap, HOA has published a guide today – ‘Living in a Leasehold House – what you need to know’
The 2017 Homeowners Survey is now in it’s fifth year. The survey gives an accurate picture of the issues affecting homeowners and buyers in today’s market.
Regionally it revealed:
Higgins adds: “We’re now at a point where we’re seeing banks stepping in to protect homeowners by restricting their lending on leasehold properties. We’re leaving it up to banks to police the industry while the government takes a half-hearted approach at best to what is clearly a major concern for homeowners.
“This is a bigger problem than anyone thought and if we don’t address it now it’s only going to get worse. UK homeowners deserve better protection than this and we must demand it,”
Research Methodology