It has been confirmed that a new ‘complex’ bill outlining further leasehold reform will be unveiled in the next session of parliament.
In 2021, the government announced that it would introduce leasehold reform in two parts. The Leasehold Reform (Ground Rent) Act was introduced in June 2022 as the first part, ending ground rents for new, qualifying long residential leasehold properties in England and Wales.
Read more about the original leasehold reform proposals here.
Recently, Michael Gove, levelling up secretary, told the House of Commons that legislation fundamentally reforming the leasehold system would hopefully be introduced in the King’s speech. Furthermore, in a recent Lords debate, Baroness Scott of Bybrook (levelling up minister) said the leasehold bill will be introduced in the next session of parliament. However, it will not arrive in time for pre-legislative scrutiny.
Bybrook also shared the government’s commitment to simplifying and reducing the cost of the enfranchisement process.
As part of this, the Baroness announced plans to introduce an online calculator to make it easier for leaseholders to determine how much enfranchisement will cost.
Further developments will be published on this matter in the coming few weeks, likely including updates to legislation.
Solicitor for Lease Extensions
At Beverley Morris & Co., our experienced solicitors can assist with all aspects of lease extensions for both freehold and leasehold properties.
To speak to a trusted solicitor today about your lease, please call 020 8552 4433 or email enquiries@beverleymorris.co.uk.