MINISTERS have outlined plans to abolish the leasehold system in England and Wales reports the BBC.
Proposals to change the law would ban the sale of new leasehold flats.
Under the leasehold system, third-party landlords known as freeholders own the building and a leaseholder buys the right to occupy a flat within it for a fixed time period.
The government said it wanted to move to a way of building homes that was more in line with the rest of the world, known as commonhold, where homeowners owned a share of and had control over buildings they lived in.
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