Word on the Street Some will welcome the changes in leasehold law as the final death-knell for the feudal system

From: The Sunday Telegraph London | Date: August 17, 2003| Author: | Copyright information

When new flat-owners proudly say "I've just bought my own place", they believe it to be true. Technically, however, in buying a leasehold property they have bought not bricks and mortar but a long- term rental contract. Worse, it is a rental contract loaded in the landlord's favour, in which the money has to be paid upfront yet the occupant takes on the duty of paying for any maintenance which the landlord deems to be necessary.

For many owners, leasehold turns out to be a perfectly satisfactory system. For others, it becomes a trap. Last week, 17 leaseholders in a mansion block in Eaton ...

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