Ed Davey: Has something gone wrong in the retirement leasehold sector?

Edward Davey, MP, Liberal Democrat, Kingston and Surbiton asks: has something gone wrong in the retirement leasehold sector?

Over ten years ago, my grandmother bought a leasehold flat in a block built for retired people. She was very happy there, as she had less to worry about, help on hand and actually felt far more independent than before. My brother and I looked after her financial affairs and there was never any real problems with either of the firms who managed the block whilst she was a resident. So you can gather from this personal experience that I’m a fan of retirement leasehold homes and know there are many good landlords and managing agents out there. However, over a year ago two constituents contacted me within a short time of each other, with serious complaints over unfair treatment of retired leaseholders – in one case, their mother, in another, their brother. My work for them exposed me to a huge number of similar cases across the country and has compelled me to support a national campaign to stop the exploitation of some retired leaseholders by what seems to be a relatively small number of companies.