Category Archives: Leasehold

Billionaire Guy Hands’ property firm takes housing reforms to European court

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Annington Property fears recent legislation will force it to offload some of the 38,000 freeholds it owns on UK military homes

A property company founded by the billionaire Guy Hands has taken a legal fight with the UK government to the European court of human rights over fears it could lose significant sums as a result of planned housing reforms.

Annington Property, which owns the freehold of about 38,000 military homes, has filed the claim against the housing minister, Angela Rayner, over concerns that the new Leasehold and Freehold Reform Act could force it to off-load the homes well below market value. Last month it launched a challenge in the high court on the same grounds.

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Secret home insurance commissions raking in millions for landlords in England and Wales

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Insurers have made huge hidden payments for buildings cover over many years, experts say

Landlords of developments in England and Wales where residents face hefty service charges face calls to disclose millions of pounds in “secret commissions” raked in over the years for arranging buildings insurance.

Experts say these hidden commissions, paid to landlords including City investment funds that hold freeholds and managing agents, have been worth tens of millions of pounds a year. The arrangements were made without residents being told and resulted in higher service charges.

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Labour has 99% chance of forming next government, says elections expert – UK politics live

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Prof Sir John Curtice, the psephologist and lead election analyst for the BBC, said the chances of a Tory revival were small

In the House of Lords peers have just started debating the second reading of the leasehold and freehold reform bill. The bill has already passed through the Commons.

Normally, at this stage of the process, the content of a government bill is all but finalised. But, as No 10 admitted on Monday, the government has still not decided how far it will go in terms of cutting ground rents for existing leaseholders.

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Labour promises rapid housing action after ‘years of Tory paper promises’

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Angela Rayner says party’s housing recovery plan will enact reforms delayed by Tories since 2019 manifesto commitments

Labour will deliver more action on housing in the first six months of office than the Conservatives have delivered in the past six years, Angela Rayner has pledged.

Downing Street has confirmed the renters reform bill will be in the king’s speech, allowing it to continue its passage through parliament when the next session opens on Tuesday.

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Tory MPs to challenge government if leaseholds ban does not apply to flats

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Exclusive: Measure in planned bill stopping sale of new properties under leasehold in England and Wales likely to only cover houses

Tory MPs are preparing to force the government to toughen up its planned leasehold reforms in England and Wales, with Downing Street expected to launch a bill that falls short of campaigners’ demands.

Conservative backbenchers say they are ready to bring amendments to the long-awaited leasehold reform bill, which will be one of the centrepieces of next week’s king’s speech but will not end leasehold on the majority of properties.

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