LKP was asked to reply to a reader’s inquiry by the Property section of the Sunday Times at the weekend.
They are a monetising scandal whereby a plc housebuilder rips off its customers by creating an income stream at their expense for often shady investors.
Worse, taxpayers have been gulled as well as many mortgages are underwritten by the Help To Buy scheme.
Opprobrium has fallen on Taylor Wimpey – which insanely for its own reputation introducing high ground rents doubling every ten years between 2007-2011 – but the company that has really cleaned up building leasehold houses is Persimmon.
Chief executive Jeffrey Fairburn said in this year’s company report:
“The housebuilding sector is attracting ever greater scrutiny from different stakeholders and for different reasons.
“This is something we welcome as only by creating a shared understanding of the challenges we face will we be able to identify and implement effective and sustainable solutions that benefit not just our industry but the country.”
LKP feels that its inquiries into leasehold houses have been anything but welcome (although, to be fair, Bellway has also been pretty shifty as well).