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#18959
CONDO/ STRATA type "commonhold model" is flopping in England & Wales. WHY ? 2019/05/06 12:17  
15 years after the model was unveiled amidst the shrieking of English & Welsh tenants yearning for ownership, a Law Reform Commission has finished hearing input into why "COMMONHOLD" is not proliferating in England & Wales.

As peremptorily scanned, it's a curious step into a time machine.

Maybe the less than enthusiastic E & W public has bothered to read about the incredible highs & lows of this type of shared ownership elsewhere. Have they checked out HOATalk.com's forum of oppression ?

B.C.'s Law Professor D.C. Harris is cited as the sole Canadian component to the enquiry so far. ( Prof Harris : many thanks for my creditation as a modest source contributor to your paper about resident expulsions / forced sales. ) See http://ontario.cafcor.org/index.php?option=com_fireboard&Itemid=46&func=view&catid=2&id=18651#18651.

A superficial skim-read at the Law Commission site shows bizarrely no reference to the venerable Building Scheme model of shared ownership. Yes, its got problems . . .

Reasons for the COMMONHOLD MODEL flopping so far, may include . . .

Feb 28/18 “Too few homes being bought commonhold, says law body” https://www.bbc.com/news/business-43141221

“A way of buying flats or houses introduced 14 years ago - known as commonhold - has failed to take off, according to the Law Commission. . . . Since the Commonhold Act came into force in 2004, only 20 commonhold developments have been created - with just one in London, and one in Manchester.

One issue the Commission will examine is why some banks and building societies appear to be reluctant to lend on commonhold properties. It said only 30% of UK institutions will grant mortgages on them. . . ."

The BBC article links to undated E&W Law Commission site “Residential leasehold and commonhold” https://www.lawcom.gov.uk/project/residential-leasehold-and-commonhold/

and thereafter to the Commission's Dec 2018 now closed enquiry : “Reinvigorating commonhold: the alternative to leasehold ownership” https://www.lawcom.gov.uk/project/commonhold/
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