Under current leasehold
rules, people typically buy flats with a lease of up to 125 years, but as the lease runs out its value can depreciate.
gives the homeowner the right to use a home for a period of time, typically between 99 years and 125 years.
Housing and Regeneration Minister Rebecca Evans said: "I am delighted that major home builders such as Taylor Wimpey, Bellway, Barratts, Redrow and Persimmon will no longer offer houses for sale on a leasehold
basis, unless absolutely necessary.
While at present the proposed English legislation would only address the issues relating to new build leasehold
properties, and leaves the wider issue of existing leaseholds
for future discussion, it is at least a start.
Lee McGray, development director at NTWDC said: "Like many, similar development projects in the UK, the land on which homes are built at The Rise remained leasehold
used to apply mainly to flats where no resident owns the land and where service charges for areas owned in common such as entrance and stairwells are needed.
starts out a little cheaper but unlike freeholders who own the land on which their home is built, leaseholders have to pay annual "ground rent" to the freeholder.
It may spread to other housebuilders who had similar rip-off leasehold
It may spread to other housebuilders that had similar rip-off leasehold
A spokesman for the Welsh Government said yesterday: "We are aware of the issues around new-build houses being sold as leasehold
and are considering how best to address these and other concerns regarding leasehold
Communities Secretary Sajid Javid has set out plans to ban new build houses being sold as leasehold
as well as restricting ground rents to as low as zero.