Leasehold Reform Debate
Full Debate: Read Full DebateDepartment: Ministry of Housing, Communities and Local Government
Lord McFall of Alcluith
Main Page: Lord McFall of Alcluith (Lord Speaker - Life peer)Department Debates - View all Lord McFall of Alcluith's debates with the Ministry of Housing, Communities and Local Government
(2 years, 7 months ago)
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The Lord Speaker (Lord McFall of Alcluith)
My Lords, the noble Lord, Lord Campbell-Savours, is participating remotely.
Lord Campbell-Savours (Lab) [V]
My Lords, have Ministers noted the large number of leasehold ground rent investments on property auction sites, as landlords, aware of potential changes in the law affecting valuations, offload their leasehold ground rent investments? Innocent non-professional buyers, ignorant of potential changes in the law, are now buying them—caveat emptor—placing themselves at risk of substantial loss. Should government not consider secondary legislation which would alert an innocent market to the dangers of buying these leasehold ground rent investments?