Following reports in the media regarding ‘leasehold’ new-build housing, Knowsley Council has clarified the current situation in the borough.
Since February 2018, Knowsley Council has had a policy in place which means that any new properties built on council-owned land can only be sold on a ‘freehold’ basis. In addition, any residents already owning a leasehold property would be given the opportunity to buy the freehold at fair market value.
Knowsley Council took this action in order to address concern about the sometimes unscrupulous practice that was taking place in the leasehold market across the county.
Whilst no legislation has yet been introduced by central Government, people living in this borough can be reassured that the council has taken the proactive steps it can to protect homeowners at a local level.