Centuries-old leasehold system to be abolished in England and Wales

Exclusive: Housing minister says overhaul of feudal-era system would take place before end of this parliament

The housing minister has promised to abolish the centuries-old leasehold system in England and Wales before the end of this parliament, as the government takes the next steps towards an outright ban on new leasehold developments.

Matthew Pennycook said he was committed to ending the feudal-era system - which applies to 5m homes in England - after years of complaints from leaseholders about crippling service charges and crumbling buildings.