When Ian Rice bought his new home two years ago, he didn’t really think about the leasehold. Now he’s angry that he was “mis-sold” an unfair contract.
“We feel we’ve been caught in a leasehold trap. The developers weren’t honest with us. They told us we had to use their solicitors, who didn’t warn us about any of the hidden service charges in the lease,” he told the BBC.
Ian reckons it will cost him more than £20,000 to get out of the leasehold trap.
But stories like his have prompted the Competition and Markets Authority (CMA) to announce an investigation into the leasehold system.
It said it wants to find out whether people are being treated fairly when buying a home.
Ian Rice is convinced he