Hmm.. Are promoters of Ground Rent income stream sales informing prospective buyers of the political risks? MPs have vowed to legislate to curb excesses. This could be a mighty case of investment mis-selling! @FreeLeasehlders https://t.co/lrhXsmI4oS
— Norma Cohen (@NormaCohen3) August 22, 2024
What amazes me is that this isn’t some shonky too-bit manager behind this , it is Savills , the Cazenove of the property world, teaming up with a sometime Savill’s intern Chris Henshall.
The shop window for this stuff is Linked in, there are plenty of people who “like” this post and the comments box is full of requests for details.
Clearly the property industry is confident that they can disrupt the upcoming Leasehold and Commonhold Reform Bill as they did the Leasehold and Freehold Reform Act
But the tone of Government has changed. There is no longer a groundswell of Conservative backbenchers as lobby-fodder for the freeholders. Instead there is a Labour party in no mood to prop up the feudal system of the freehold which supports a range of shady practices that put the interests of invisible and unproductive landlords ahead of renters and long leaseholders.
Change needs to happen and it needs to start at firms like Savills.
