The UK government has announced plans to ban the sale of new leasehold flats before the next election, aiming to end what it calls a 'feudal' property system.
The reform will make commonhold the default tenure, giving homeowners more control over their properties. This move is expected to impact millions of homeowners in England and Wales, where leasehold arrangements have long been criticized for high fees and restrictive terms. The Labour government has committed to implementing this change within the current parliamentary term.
The overhaul is seen as a major step toward modernizing property ownership in the UK.
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Ban on sale new leasehold flats 'to bring feudal system to an end'
New leasehold flats will be banned by the next election in a move ministers say will bring an end to the centuries-old "feudal" property system. The government has set out its next steps to scrap leasehold as a form of homeownership in England and Wales, which was promised in Labour's manifesto.
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