Leasehold property laws in need of sweeping reform, says thinktank | Money | guardian.co.uk

Leasehold property laws in need of sweeping reform, says thinktank | Money | guardian.co.uk

Millions of people in England and Wales are living under "quasi-feudal" leasehold laws which allow them to be exploited by unscrupulous managing agents charging £2.5bn a year, according to a report by the thinktank CentreForum which calls for sweeping reform of the sector.

The study found that tribunal disputes between leaseholders and freeholders have quadrupled in the past decade, with a significant rise in cases involving inflated service charges and the activities of connected companies, such as those that provide buildings insurance.

The report's authors, Chris Paterson and Thomas Brooks, said: "At present, freeholders generally have full control over property management. This means that leaseholders, who may own rights to a property for 99 or even 999 years – and therefore have the primary financial and emotional interest in that property – are left to foot .......