property ownership

The property ladder seems to have had the bottom couple of rungs knocked out by a combination of high property prices, high mortgage arrangement fees, stamp duty that affects virtually every habitable property in the South East and rising interest rates. A replacement rung, in the form of a lease option, is now available that might just help first time buyers to get a ownership of their first property.

Leaseholders are enjoying a new purchasing power
By Sharlene Goff Financial Times, London.

Published: September 23 2006

Record numbers of leaseholders are taking ownership of their blocks of flats as they lose patience with inattentive landlords and realise that purchasing the freehold can add thousands of pounds to their property's value.

The Leasehold Advisory Service estimates that tens of thousands of flat dwellers could this year force the owners of their buildings to sell them the freehold by the legal process known as "enfranchisement".