It is shame for British government
It is indeed big shame that government didn’t realize what is going on in their country. It is not like one village or one small group of people gets cheated, but we talk about 100 thousands of people. It is enormous number of honest citizens who just wanted to use opportunity they had. It is common opinion that government made failure when it comes to ground rent scandal. It is always better to prevent than to cure, but this time British government failed. It’s not only opinion of ordinary people but also opinion of respectable people, even some people in government.
Government tries to find solution
Ground rent scandal is big problem for big part of British population, but also it is government’s interest to find best possible solution for this problem. For now, the plan is to forbid leasehold houses, and to decrease rents to the very small amount of money, so-called peppercorn price. There still will be leasehold flats but rents for it will be very low. Government is going to fix some regulations so this can’t happen anymore. This will protect future buyers and it will make frauds almost impossible.
Help to buy equity loans
The plan is to provide help to buyequity loans for damaged leaseholders. They will special benefits and it is going to help them to pay eventual freeholders price. Also there are many people who are willing to provide help leaseholders, as they were put under pressure of public. Among these people are some that were blamed for this scandal, and people see this like their chance to make up for their mistakes.