RESIDENTS are hoping for significant change after the leasehold system which has caused people ‘nightmares’ featured in the Queen’s Speech.

Leasehold ownership, most commonly found in flats, means purchasing a property for the duration of a usually long-term lease rather than owning it outright.

Mike Carroll, who lives on Steinbeck Grange in Chapelford, is among those affected by the leasehold scandal on what residents say is a collective issue.

Residents believe they were mis-sold their property by David Wilson Homes (DWH) – which is part of Barratt Developments.

Mr Carroll, who moved into his home in December 2008, says when deposits were placed there was never any mention of a property management company or leasehold and residents were placed ‘under duress’ to utilise one of the conveyancing firms put forward by DWH.

He is being charged management fees for communal areas on the estate, which he believes are unfair and unjustifiable, given that there is ‘nothing to manage’ and all latest phases identical to Steinbeck Grange are exempt from any management contract.

Mr Carroll expressed concerns over buyers being ‘trapped’ into the ‘feudal system’.

He added: “It’s great to hear the Queen addressing a feudal system that has caused so many people nightmares, however, we have heard change mooted in Parliament so many times before.

“Let’s hope this will now drive change and incorporates existing leaseholders especially, those that have been mis-sold.

“Let’s hope the Competition and Markets Authority find justice for the victims affected by this criminality.”

But the developer has responded to the comments.

A spokesman for Barratt Developments said: “All of David Wilson Home’s leases are designed and intended to be clear and transparent, and all customers were made aware of the leasehold nature of the properties and any management contracts prior to sale.

“We aim to provide all relevant information to our customers at first point of sale and through solicitors prior to exchange of contracts.

“All customers have access to independent legal advice throughout the purchase process.

“Management clauses exist to provide for the maintenance of common parking areas.

“The residents of Steinbeck Grange have the option to seek to exercise a right to manage over these areas, ensuring that no further management fees will be payable.”