Rayner says watchdog will rein in 'cowboy' leasehold property agents
UK Housing Secretary Angela Rayner has announced plans to introduce an independent regulator to oversee property agents and curb unfair fees for leaseholders. The government aims to protect five million leaseholders from predatory practices and move toward a commonhold system.
Why it matters
This policy shift addresses long-standing grievances in the UK housing market, potentially changing the power dynamic between property management companies and homeowners.
Image source, Reuters Image caption, Angela Rayner took aim at the 'injustice' of leasehold in her conference speech
Leaseholders will be given extra protections from "cowboy" property agents and hidden fees, Angela Rayner has announced.
The housing secretary told Labour's annual conference the government would legislate for a new independent regulator and launch a consultation to cap "rip off" administrative fees.
The changes would cover the estimated five million leaseholders in England and Wales who can be forced to pay a landlord for simple changes to their home, despite having bought it.
Rayner told party activists she had heard of leaseholders being charged £250 for permission to own a pet and £400 to change their front door.
She said people in these situations were "powerless against the vested interests that only take, while giving nothing back in return".
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