Scott states:
Scott Goldstein, a partner at law firm Payne Hicks Beach, said: “The concern is to make sure that the system is ready to cope.”
“Lenders must be encouraged to give mortgages to purchase flats held on commonhold.
“There must be robust financial controls in place to ensure commonhold blocks have the resources they need to manage their properties.
“Finally, as commonhold blocks are always run by property owners, many more of us will be involved in property management.
“The government needs to provide easy to follow resources to educate and train all of us about the rights and responsibilities of commonhold.”
For further information, please contact Scott Goldstein, Partner in the Litigation, arbitration & dispute resolution department or, alternatively, telephone on 020 3911 2083.
The full articles have been linked with kind permission:
- Ban on new leasehold flats ‘doesn’t go far enough’
- How the government’s latest leasehold reforms will help you | MoneyWeek
- Commonhold to be default tenure for new flats under plans to bring an end to ‘feudal’ leasehold | Today’s Conveyancer
- Sounds familiar? Minister promises to ban leasehold
- System must be ready to cope with leasehold ban, says legal expert – Property Industry Eye
- Property118 | Labour pledges to end ‘feudal’ leasehold system with commonhold overhaul – Property118
- Ban on new leasehold flats moves closer
- Could leasehold properties eventually be scrapped? What we know about Labour’s plans
- Government plans leasehold ban – Solicitors Journal
- Government plans to ban new leasehold flats | Estate Agent Networking
