When neighbours Ele Weeks-Bell and Maggie Coles were setting up their commonhold flats 15 years ago, they struggled to find a lawyer who could help them.
“We were trying to find solicitors that knew anything about commonhold and getting a blank every time,” said Weeks-Bell. “And most mortgage companies were just like, no one has ever done this before, so we’re not prepared to mortgage you, because it’s a huge risk.”
Their block of six flats in Bristol is one of only about 20 commonhold developments in England and Wales created since legislation was introduced in 2002, and the only self-built one, which made getting it off the ground particularly tricky.
Last month, the government announced plans to start abolishing the “unfair feudal” leasehold system and create a law meaning all new-build flats will automatically become commonho...
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