The assured tenancy trap

At the Property Litigation Association’s annual Alan Langleben Memorial Essay Competition Philip Sheppard won first prize with this entry on the assured tenancy regime relating to long leaseholds.

Leasehold dwellings comprise nearly a fifth of England’s housing stock and more than 40% of new homes are of leasehold tenure. The average long leasehold home currently costs around £260,000. They are capital investments and long-term homes.

Parliament, courts and regulators have between them seen fit to establish safeguards to protect long residential leaseholds from being seized or snuffed out too easily by landlords or creditors.