Leasehold is a feudal system

The first leasehold properties appeared in the Middle Ages to allow landowners opportunities to maximise their income. Leasehold is mentioned in the Doomsday Book. The idea, according to the Law Society, was "...to allow 'villeins' or 'serfs' to work a plot of land, for a fixed period, on the basis that they would pay 'in-kind' by providing food and services to those further up the social order, principally the land owners."

Leasehold in the 20th and 21st centuries is used because freehold could not be applied to flats in a multi-occupancy building that is sub-divided. A separate land boundary is required to be seen on a map.

The lease of a person's home has become a commodity that investors can buy happily in the knowledge that they receive annual ground rents, often which double each year, profits from lease extensions, and can recover all costs from leaseholders related to maintaining the land and building they own.

Even Sajid Javid believes that leasehold '...is practically feudal'.



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© 2020 Paul Bell. All views are my own, unless otherwise stated