Commonhold: a better way to own your flat

Why has a property ownership system with manifest advantages over leasehold so far failed to take off?

886-flats-634

Commonhold makes sense for owners of flats
(Image credit: Adam Petto)

People have had the option to buy homes in England and Wales via a commonhold structure since 2004. But since then, only 20 developments have been created. By contrast, there are currently around 4.2 million properties owned as leaseholds in England alone, according to the Department for Communities and Local Government. Now the Law Commission wants to know why take-up of ownership has been so low.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Sarah is MoneyWeek's investment editor. She graduated from the University of Southampton with a BA in English and History, before going on to complete a graduate diploma in law at the College of Law in Guildford. She joined MoneyWeek in 2014 and writes on funds, personal finance, pensions and property.