Angela Raynor takes aim at leasehold managing agents.
In a move that will be celebrated by many of those living on flats nationwide, the housing secretary has taken aim at managing agents overseeing blocks of apartments.
The housing secretary told the Labour Party conference in Liverpool that she considered her plans to be “unfinished business” to confront “the scandal faced by millions of leaseholders who have found their dream of homeownership turn into a nightmare”.
She said: “We are ending the injustice of fleecehold, abolishing sickening threats of people’s homes being snatched away by their landlord for the slightest breach, and we’re finally dealing with ground rents.
“Despite owning their own home, some leaseholders are forking out hundreds, and sometimes thousands, of pounds each year to unaccountable investors for absolutely nothing in return.
“That is why we are calling time on this, by capping, then scrapping ground rents – putting power and money back in people’s hands.”
Announcements are one thing….action is another! Watch this space for developments.
