Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Leasehold Crisis Persists Despite Reform Efforts
Leaseholders are continuing to experience mounting costs and are unable to sell their homes, according to a report by Property118. This situation persists despite the introduction of the government’s Leasehold and Freehold Act.
Propertymark’s report, "leasehold still a life sentence," highlights that progress on leasehold reform has been slow. Estate agents are reportedly still struggling to sell leasehold properties.
The government has announced further measures, but the report indicates that many leaseholders remain affected by rising costs and limited options to move.
This ongoing issue is relevant for UK letting agents and inventory clerks, as it impacts the saleability and management of leasehold properties.
Source: Property118