Shaz delves into the topic of lease option agreements, explaining the concept of a lease and the complexities involved in lease agreements.

Shaz then discusses the potential changes to lease option agreements mentioned in the King's speech, which aim to improve fairness in the housing market. He explores the proposed reforms, such as extending lease terms, reducing ground rent, and increasing transparency in service charges. 

KEY TAKEAWAYS

• Proposed changes to leasehold agreements aim to improve home ownership for leaseholders by making it easier to extend leases or buy freeholds.
• The reforms include increasing the standard lease extension term from 90 to 990 years and reducing ground rent to zero.
• The government plans to provide more transparency in lease agreements, including clearer information on service charges and administration fees.
• The reforms also aim to empower leaseholders by granting them more rights and access to redress schemes to challenge poor practice.

BEST MOMENTS

"The cost is the cost. And I think most people are generally decent people and they can appreciate that if you want a nice road to drive down into, if you want your parking space kept free of weeds, you want there to be lighting, there to be security, there is a cost involved in that." 

"Landlords get labeled as money grabbing, evil, blah, blah, blah. It's always the landlord's problem. It's not the landlord, it's the government. They've forced this into the marketplace, whether it's intended, unintended, don't want to go into that. They've created this situation and then you take responsibility for it." 

"I think everyone should be able to get themselves into a position where they can own their own home." 

"I don't see that being a bad thing at all. We'll see how that how that comes into effect and the scrapping the presumption for leaseholders to pay their freeholders legal costs when challenging this poor practice."

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Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultations he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.