Since 2017 the government has talked, with a hard-hitting approach, to end abusive and unfair leasehold practices. There is now a growing campaign to replace leasehold with commonhold to make the system a fairer one.
The government promised to ban leaseholds on all new-build homes, however with only Taylor Wimpey and Barratt Developments signed up to the scheme, we can only assume that leaseholds are still the go-to preference for developers.
New builds are still being sold on a leasehold basis, and the buyers are subsequently caught out by clauses which lead to large bills and a rise in ground rent.
Will commonhold ever be a popular move? Unlikely because developers stand to lose a major income stream if they walk away from the leasehold route. The answer would be to make commonhold statutory, with some kind of sweetener for developers in terms of a tax break to compensate them for the loss of income.
This, of course, does not touch on the problem faced by existing leaseholders, which is the very group that currently needs the support.
The National Leasehold Campaign (NLC) has been set up to campaign for the abolition of residential leasehold in England and Wales. Their website https://nationalleaseholdcampaign.org/ has more information.