Government U-Turn - Leasehold ban NOT included in housing reform law

The Property Nomads Podcast

Rob looks at the disappointment surrounding the UK government's decision to not include the leasehold ban in its new housing reform law. He stresses the importance of doing thorough research and having a reliable solicitor when purchasing a property, especially when it comes to leasehold houses and the potential issues with service charges and ground rents, and also touches on the political dynamics and speculate about the future of leasehold reforms under a Labour government.

KEY TAKEAWAYS

• The UK government has decided not to include the leasehold ban in its new housing reform law, which is a disappointment for many people.
• The government has a history of saying one thing and doing another, so it's not surprising that they have not followed through on their promise.
• When purchasing a property, it is important to do your own homework and have a good solicitor who can point out any red flags, especially when it comes to leasehold houses and the challenges they may present.
• The government's decision may be influenced by their own interests, such as owning block management companies or having ties to leasehold companies.

BEST MOMENTS

"Surprise, surprise, the government have decided to not include the leasehold ban in its new housing reform law."

"Labour saying that the bill's been watered down and doesn't match what was promised by government."

"Mr Gove has branded leaseholds unfair and outdated. He's previously said he wants to scrap them entirely."

"We shouldn't be surprised by this whatsoever. It is what it is. This is the way the system is."

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ABOUT THE HOST

Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.

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uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast