Latest News

NCA money laundering investigation results in multi-million-pound asset recovery

24 May 2019

The National Crime Agency (NCA) recovered around £6 million worth of assets including an award-winning luxury hotel and a £100,000 Bentley from alleged members of an international money laundering group after an eight-year investigation. Read More...

Revised Codes of Practice issued by the Property Ombudsman

24 May 2019

On 1 June, The Property Ombudsman (TPO) scheme’s updated Codes of Practice will become effective. The revisions are substantial, and incorporate the Tenant Fees Act 2019, Client Money Protection and GDPR requirements. Read More...

Scotland’s house prices growing faster than the rest of the UK

24 May 2019

March 2019’s monthly UK house price index shows the average price for a property in Scotland is now £149,461 which is a welcoming 3.3% increase compared to the figures of March 2018. Read More...

London Leasehold Advice Portal Launched

Tuesday 26 February 2019

Sadiq Khan, The Mayor of London has launched a leasehold guide for Londoners and slams ‘lease’ as ‘unfit for purpose’.

The portal has been created to make the process of buying a leasehold property easier to understand, and, the Mayor recognises that many Londoners who buy their home on a leasehold basis encounter difficulties and confusion.

Call for reform

With the current leasehold purchasing system things aren’t working with increasing ground rent costs, extortionate fees and the very real risk of being people unable to sell their homes. Sadiq is now calling on the Government to reform leasehold and move to a fairer system of tenure.

Guide and reports

The new Mayor of London’s leasehold guide for Londoners aims to make sense of the current system giving people answers to frequently asked questions, as well as further courses of advice.

Leading the debate

In September 2018, NAEA Propertymark submitted written evidence to the Housing, Communities and Local Government Committee in the House of Commons and produced a report - Leasehold: A Life Sentence, which broke ground on the leasehold scandal. 

NAEA Propertymark has set out robust recommendations to tackle the growing problem of life sentence leaseholds. These include preventing the sale of new-build leasehold houses unless there is a legitimate reason, such as shared ownership with a stair-casing lease and ensuring purchasers of new build homes should have access to an ombudsman scheme.

NAEA Propertymark is a member of the Welsh Government’s Task and Finish Group which is looking at how to tackle leasehold in Wales. It is anticipated that the Minister will receive a report from the task and finish group in the Summer.

Further action

NAEA Propertymark will be engaging with the Mayor of London, outlining our research and opening a dialogue to work together. We will also shortly be publishing best practice - watch this space...

Understanding Leasehold

NAEA Propertymark runs a training course to provide estate agents with the knowledge to successfully market and sell this type of home, book your place now.