The leasehold system has made a dramatic comeback since the 1990s, with 43% of new builds – including houses as well as flats – now leasehold compared with 22% in 1996, according to a report by the HomeOwners Alliance.
The Homes Held Hostage report found that 40% of homeowners did not know when the leasehold on their property was due to expire. Almost a quarter of the others – in some 370,000 homes – had less than 80 years to run on their leases.
HOA estimates the cost of extending the leases at some £4bn.
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