Leasehold properties are common in London.1 In 2018, 57 per cent of residential property transactions in London were leasehold.2
However, unlike a freeholder, a leaseholder does not own their property and they may come against issues such as increasing ground rent and service charges, and high costs for major works, such as remedial fire safety works following Grenfell.
Are prospective property buyers given the right information at the point of purchasing a leasehold property? NAEA Propertymark published a report in 2018, which stated that 94 per cent of leaseholders, who took part in their survey, regretted buying a leasehold.3
Tomorrow, the London Assembly Housing Committee will hold a meeting to discuss leasehold tenure in London – what are the main issues facing leaseholders, how can the Mayor of London help and what are the alternatives?
The guests are:
- Sebastian O’Kelly, Director, Leasehold Knowledge Partnership
- Martin Boyd, Chair of Trustees, Leasehold Knowledge Partnership
- Councillor Leo Pollak, Cabinet Member for Social Regeneration, Great Estates and New Council Homes, Southwark Council
- Rebecca Cattermole, Barrister, Tanfield Chambers
The meeting will take place on Tuesday, 11 February at 10:00am in The Chamber, City Hall (The Queen’s Walk, London SE1).
Media and members of the public are invited to attend
The meeting can also be viewed LIVE via webcast or YouTube.
Follow us and take part in the meeting discussion using #AssemblyHousing and #Leasehold
Notes to editors
- Leasehold provides time-limited permission to occupy a property (for example, a 99 or 125 year lease) and control of the property is shared with, and limited by, the freehold owner (that is, the landlord).
- House of Commons Research Briefing – Leasehold and commonhold reform, 31 December 2019
- Leasehold: A Life Sentence, NAEA Propertymark, September 2018
- Agenda papers
- Unmesh Desai AM, Chair of the Housing Committee, is available for interviews. Please see contact details below.
- Housing Committee.
- As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor.
For media enquiries, please contact Lisa Lam on 020 7084 2713. For out of hours media enquiries, call 020 7983 4000 and ask for the London Assembly duty press officer. Non-media enquiries should be directed to the Public Liaison Unit on 020 7983 4100.