HOUSING company Hopton Build last week welcomed Batley and Spen MP Tracy Brabin to the site of their newly-built freehold flats in Liversedge, which they say could revolutionise the way home ownership works in the UK.

Co-director Stewart Moxon (pictured with Ms Brabin) of Hopton Build champion a new kind of ethical home ownership known as “commonhold”.

Under commonhold, the homeowners that have freehold flats in an apartment building also own shares of the common areas. This allows for collective, permanent ownership of the building.

With this idea, Hopton Build offers would-be homeowners in the Batley and Spen area a fairer, more affordable alternative to leasing. It says when buyers “buy” a leasehold property, they do not become the owners of the property – they only acquire the right to occupy it for the amount of time that is remaining on the lease. This means that they must pay extra fees known as “ground rents” before finally losing their home once their leases are up.

Hopton Build says its modern apartments on Halifax Road, each equipped with state-of-the-art facilities, bring freehold – a true ownership alternative to leasing or renting – to would-be buyers, with deposits from £6,750 and repayment mortgage payments of around £430 a month for apartments worth over £135,000.

During her visit, Tracy heard from Stewart how young buyers in Liversedge are finally able to achieve their dream of owning their own home thanks to Hopton Build’s commitment to good practice and no-strings-attached home ownership.

Commenting on her visit, Ms Brabin said: "While home ownership is a fantastic thing for those who can afford it, it can’t be right that the freeholder can hike up costs for the leaseholder as and when they wish.

"Commonhold is a fantastic way forward, ensuring the plot the building sits on is owned by those living on the property, not some absent landlord who may not have the resident’s best interests at heart.

"Making decisions on where you live is empowering and inclusive and genuinely helps you get to know your neighbours and build a community as you all work towards a common goal of having a lovely, stress free place to live.

"That’s why a Labour government would bring an end to exploitative leasehold contracts by capping ever-rising ground rents and making it easier for leaseholders to buy the freehold to their home."

Talking about Tracy’s visit, director Neil Turton said: “We warmly welcome the support from our local Member of Parliament. Our commonhold scheme enables full freehold ownership of individual apartments, whilst also reducing management fees and running costs by jointly managing the common areas, making them far more affordable than comparable leasehold apartments.”

Hopton Build only has two flats remaining at the development at 149 Halifax Road.