LKP has urged Poltair Homes and the Tchenguiz Family Trust to sort out 80 shared ownership leases on houses which are now unmortgagable owing to the disastrous terms.
Ground rents on the properties, which have never sold for more than £125,000, are presently £1,500pa and rise every year with RPI. As a result, the residents – who were all deemed to have local housing needs – are stuck.
Local builder THF Limited – a related company of Poltair Homes – built the three sites with the same 62% shared ownership leases from 2004.