Leeds-based property experts 321 Move believe the latest government reforms will make it cheaper and easier for leaseholders to buy their homes.
Online PR News – 23-March-2021 – Leeds, West Yorkshire – Leeds-based property experts 321 Move believe the latest government reforms will make it cheaper and easier for leaseholders to buy their homes.
New government legislation announced by the Housing Secretary Robert Jenrick will ensure millions of leaseholders will be given the right to extend their lease by a maximum term of 990 years at zero ground rent.
Housing Secretary Rt Hon Robert Jenrick MP said: “Across the country people are struggling to realise the dream of owning their own home but find the reality of being a leaseholder far too bureaucratic, burdensome and expensive.”
“We want to reinforce the security that home ownership brings by changing forever the way we own homes and end some of the worst practices faced by homeowners. These reforms provide fairness for 4.5 million leaseholders and chart a course to a new system altogether.”
A spokesperson for 321 Move said: “High ground rents as well as mortgage payments are a burden to thousands of leaseholders across the UK. Leaseholders were at the mercy of freeholders and could face unnecessary increases in ground rent at any time.”
“We are hopeful that the new legislation will allow any leaseholder wishing to extend the lease on their home will no longer pay ground rent, helping to realise the dream for many – to finally own their own home.”
321 are UK property experts with offices in London and Leeds. They provide online guides for those looking to sell their home, answering frequently asked questions such as, ‘ What happens at a house valuation ’ and ‘ how to sell my home fast ’.