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Leasehold charges to be capped at £250 rather than cut to zero: Report – Mortgage Strategy (www.mortgagestrategy.co.uk)

submitted 5 months ago by Mex@feddit.uk to c/unitedkingdom@feddit.uk

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[–] Emperor@feddit.uk 3 points 5 months ago (1 children)

Last year Gove called the leasehold system a “feudal system that needs to go”.

However, the Treasury has come under pressure from pension and insurance funds, to argue that this policy should be watered down.

Several funds have invested heavily in ground-rent portfolios and an internal Treasury analysis suggests that up to £37bn of investment could be wiped out, which may lead to compensation claims aimed at the government.

[–] Rogue@feddit.uk 5 points 5 months ago (1 children)

Why the fuck would investors get compensation? Isn't the entire point of investing that your capital is at risk

[–] Tweak@feddit.uk 3 points 5 months ago

Exactly. The whole "privatise the profits, socialise the losses" needs to end.

[–] scrchngwsl@feddit.uk 2 points 5 months ago* (last edited 5 months ago)

Honestly this is better than nothing and very welcome for me. Not often I say good things about Michael Gove but he's done a great job on this and the cladding fiasco.

The real thing that cripples me as a leaseholder though is the service charges, which have doubled since I bought the place. The whole thing is a total con.