The problem with scrapping leasehold
Like most non-renting flat-dwellers, I call myself a home-owner or owner-occupier, but that isn’t quite true. I don’t own my flat; I am a leaseholder. What I bought was the right to occupy it for however many years are left on the lease – and as the lease runs down, the flat is worth less and less. Conversely, this is why, if you were so minded, you could find a prime London flat for a (relative) pittance if the lease has only a few years to run, and why long leases generally come with a premium. The government describes this system as feudal – in the rights it gives to
