Martin Lewis slams 'yet another' delay ending system leaving homeowners poorer

The long-awaited reforms to the "feudal" leasehold system, which allows homeowners to be charged eye-watering ground rents and ridiculous admin fees, appear to have been kicked into the long grass once again.

Millions of homeowners had expected action on these unfair charges to take effect this year, after a bill was rushed through parliament in the final days of the Conservative's rule. But the new Housing Minister, Labour's Matthew Pennycook, stood up in the House of Commons on Wednesday and announced that most of The Leasehold and Freehold Reform Act 2024 would now be delayed.

Founder of Money Saving Expert and campaigner Martin Lewis slammed the decision to delay the much-needed reform. Mr Lewis said: "I can almost hear the collective groan of leaseholders at yet another delay in sorting the leasehold mess out. Someone really needs to get a handle on this..."

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The crux of the issue for millions of homeowners is the enormous costs they are facing after purchasing a leasehold property, where they typically own the home for a period of 99 years. Many are seeing their leaseholders demand hundreds in annual ground rents, as well as paying through the nose for "service charges."

Labour has committed to addressing this issue "as quickly as possible" with the intention of scrapping the leasehold system, which was created in the 13th century so feudal lords could collect ground rents from their peasant farmers. However, as the urgent legislation was rushed into law through the "wash up" period before the July general election, Pennycook told the Commons there were serious flaws in the details.

Labour's Housing Minister said: "These serious