The government(with cross party support) is beginning to react to the inherent unfairness to leaseholders that the current system of leasehold encourages.
They have tasked The Law Commission to make a report on the failings of leasehold and the consequences of those failings have on leaseholders.
Thus far they have identified "too many problems including disproportinate costs to extend leases, poor value property management and a slow costly sales process"
It is the opinion of About Peverel that as with every country other than England & Wales leasehold needs to be abolished and replaced with a form of commonhold.
All that is covered by leasehold (the need for insuring a development/keeping it in good order/complying with covenants0 can be covered by commonhold.
The real difference being that each current leaseholder would also have an equal share in the freehold. so the "profit" motive for amassing large freeholding property portfolios would no longer exist.
This "profit" is not just derived from ground rent income.
Far more has been earned from freeholders appointing exploitative managing agents (that they just happen to be connected to)
Under commonhold managing agents such as Peverel/Firstport would never have become the size they had (before their corrupt methods were exposed)
If every leaseholder had the automatic right to appoint a managing agent of their choice (as commonhold would provide for) it is difficult to believe many developments would choose Firstport?
Those afflicted by leasehold have a very big chance to finally air their views to a Government body.
Please go to the Leasehold Commission/l leasehold law website (use "google" and you can download the questionaire.
