The current system in England and Wales is iniquitous, but the answer isn’t to divide flats into shiny new-builds v leasehold debt traps

The leasehold system in England and Wales has needed tearing down since the medieval era. It locks homeowners, especially those in flats, into an exploitative, serf-like relationship with the freeholder who owns the property and management rights to it.

The freeholder can exploit this power imbalance and, with the backing of the law, coerce the leaseholder to pay extortionate sums in ground rent and service charges. The former is a payment conferring no benefit or service to leaseholders, it is owed as tribute to the freeholder’s superior legal rights. Historically a trivial amount, ground rent has been gamed in recent years to extort more money from individual leaseholders. So destructive are ground rents that in 2022, parliament passed a law banning them on new homes.

Harry Scoffin is a housing campaigner and the founder of Free Leaseholders