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I've posted before on this subject under other articles and Lou Valdini is absolutely right, the developers are making massive profits from the sale of these leasehold reversions, propped up by Help to Buy.
Can someone please have the guts to stand up to the developers and require that all sales of new builds must be freehold unless certain strict criteria apply? And as I've said before agents/site sales office should complete (CML compliant if mortgaged) paperwork confirming the buyer has been fully advised on all key aspects of that tenure.
Its absolute nonsense that the Developers would 'have to increase the cost of properties if leasehold is reformed'. Has anybody noticed the bumper level of profits achieved recently by the house builders? The average selling price of private homes for one increased by 12% last financial year - they can't build the houses fast enough to meet demand - resulting in pre-tax profits jumping 26% with revenues up 20% and that has increased four years in a row!
Like the insurers, one can only conclude that given the housing shortage, the developer's have the government eating out of their hands. But like the other necessities in life, housing (and insurance) are too important to be left to the greedy free market.