Jun 23, 2021

Leasehold firms agree changes after watchdog investigation

House builder Persimmon will allow its leaseholders to buy the freehold of their property at a discount. Insurance company Aviva, which buys leaseholds from house builders, will repay homeowners who saw their ground rents double. CMA chief executive Andrea Coscelli said: "This is a real win for thousands of leaseholders - for too long people have found themselves trapped in homes they can struggle to sell or been faced with unexpectedly high prices to buy their freehold. Now, they can breathe a sigh of relief knowing things are set to change for the better."It's good that Aviva and Persimmon have responded positively to this investigation, enabling these issues to be fixed for leaseholders. Leasehold house owners are often charged expensive ground rent as well as fees if they want to make changes to their homes. Persimmon Homes has extended its existing Right to Buy scheme to cap the purchase price of a freehold at £2,000.

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