Leasehold

House of Lords written question – answered on 9th December 2014.

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Photo of Baroness Hayter of Kentish Town Baroness Hayter of Kentish Town Shadow Spokesperson (Business, Innovation and Skills), Opposition Whip (Lords), Shadow Spokesperson (Cabinet Office)

To ask Her Majesty’s Government what action they propose to take following the Competition and Markets Authority market study into the residential property management service sector in England and Wales.

Photo of Lord Ahmad of Wimbledon Lord Ahmad of Wimbledon Parliamentary Under-Secretary (Department for Communities and Local Government)

With more than 4 million properties across England subject to a long lease, leaseholders are a vital part of a growing housing market.

This Government has already increased protections for leaseholders, with limits being placed on the amount of service charges recoverable from local authority leaseholders where the works are funded by Government grant, as well as a requirement for every property manager to belong to an approved redress scheme. We will now work closely with the Competition and Markets Authority to consider what further support the Government can offer.

Housing is a devolved issue for Wales. I understand that the Competition and Markets Authority will be pursuing the issues arising out of its market study separately with the Welsh Government.

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