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Liverpool Echo
Liverpool Echo
National
Nick Tyrrell

Thousands of Liverpool homeowners set to be offered big opportunity

Thousands of homeowners in Liverpool could get the opportunity to make a key purchase to give them further control over their homes under council proposals.

In a notice on its website, Liverpool Council proposed plans to sell off around 9,000 ground leases to property owners.

The leases are held on properties which the council has disposed of in previous decades. This could apply to a variety of homes, though the council said that under these proposals the offer to buy the lease will only be made to owners of houses.

Owners of such properties currently pay a ground rent to the council every year. Such a payment, often known as a peppercorn rent, is normally an extremely small amount.

However, buying the ground lease provides the chance to buy the land the house is built on.

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A notice published on the council's website said: "The report requests the disposal of the long residential ground rent leases to the current lessees. It does not address leases of apartments as separate statutory rules apply. There are approximately 9,000 individual properties and there is no strategic rationale for retention."

The proposals were set to go to the council's cabinet this week but will instead now be considered in January.

It is expected that more details about how exactly the leases will be disposed of will be revealed then, including details about the costs that homeowners would face if they want to buy the ground lease.

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