TORFAEN AM Lynne Neagle has welcomed new guidance which is aimed at to helping buyers navigate the potential pitfalls of taking on a leasehold property.

The Leasehold Advisory Service (LEASE) has produced the handy fact sheet highlighting the key terms and what buyers can expect if they become a leaseholder.

Ms Neagle has campaigned on behalf of leaseholders in Torfaen for a number of years as many have been hit by substantial bills for improvements to their properties, necessary under the Welsh Housing Quality Standard programme.

The AM has worked with The Leasehold Advisory Service on a number of occasions to tackle the considerable financial difficulties being faced by constituents in Torfaen as a result of their leasehold propertiesy being updated.

The new one-page guidance will be given to all prospective buyers when they are property-hunting and is designed to fully brief people on their obligations as leaseholders. Key points include defining service charges, sinking funds and the role of managing agents.

Ms Neagle said: “The Advisory Service has given expert advice on a number of occasions to my constituents in Torfaen facing substantial bills so I am pleased that LEASE is continuing to arm potential leaseholders with the knowledge they will need before they takinge on a leasehold property. "

“Hopefully this guidance will help prospective leaseholders enter the complex process with their eyes wide open and aware of the potential risks”

The guidance is available free of charge from www.lease-advice.org/leaseholder-information-details.pdf