In his latest blog, Ian Fletcher of the British Property Federation (BPF) sets out an insightful summary of the current position as to the reform of the law relating to leasehold properties, the challenges facing the Government and some of the contradictions raised by the proposals.
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The Road Towards Leasehold Reform
It is difficult to see how an issue which started with the inappropriate use of leasehold on new houses, has come to the point where those who have traditionally invested in the sector are deprived of fair value for their holdings, and to leap from reform of the methodology of valuing leasehold interest to total confiscation of a part of it. In the process in some cases transferring wealth to speculators and other short-term investors, and taking it away from charities, pensioners, and long-term investors in place.