Leasehold is a hangover from feudalism and colonialism, it’s got to go | Victoria_Spratt
changed this type of property ownership, introducing longer leases and more rights for leaseholders.
Indeed, as soon as Ireland became a republic, the country legislated to give leaseholders the right to buy their properties from freeholders at a relatively low price. Although freehold ownership still exists there, this was an important undoing of the system that had allowed members of the Anglo-Irish aristocracy to extract ground rents from Irish people.
According to the Bank’s new figures, the number of remortgages was down to just 26,100 in December. That is the lowest level since 2013. Added to that, the Bank reports that the number of mortgage approvals – that is, people who want to take a loan to buy a home and are able to get it over the line – has also decreased. In December, approvals fell to 35,600 from 46,200 in November amid rising interest rates. That is the lowest figure since May 2020, when the first Coronavirus lockdown ended, and the fourth monthly decrease in a row.
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