Leasehold flats to be banned in overhaul of centuries-old system

The housing minister in England and Wales has pledged to abolish the centuries-old leasehold system before the next general election, banning the sale of new leasehold flats in favor of commonhold tenure. Homeowners will gain greater control over their properties, with measures outlined in a white paper marking the end of the “feudal” system, which has been criticized for unfair costs and practices. The proposed reforms will eliminate extra expenses like ground rent, giving homeowners more say in how their buildings are managed and bringing an end to third-party landlords making decisions on their behalf.

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