Expand 'Commonhold' Ownership System, Government Urged

The rarely used “commonhold” system of home ownership should be expanded as an alternative to landlord-controlled leaseholds which are increasingly resented, the Law Commission is recommending. In a consultation, the government’s official adviser on law reform is calling for commonhold to become widely available because it permits anyone to own a freehold flat without the threat of a time-limited lease expiring. Commonholders become members of a company that owns and manages the shared areas and structure of a building. There is no landlord. The proposal would primarily benefit flat owners, many of whom are young and climbing the first rungs of the property ladder but still have to pay substantial annual ground rents. Read more on the Guardian website.

https://www.theguardian.com/law/2018/dec/10/plans-expand-commonhold-home-ownership-system-landlords-uk