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Leasehold and Commonhold Reform
21 November 2024
Type
Written Ministerial Statement
Department
Ministry of Housing, Communities and Local Government
At a Glance
Issue Summary
The statement addresses reforms to the feudal leasehold system in England through the implementation of the Leasehold and Freehold Reform Act 2024 and future legislation.
Action Requested
The government intends to implement provisions of the Act by January next year, including removing the '2-year rule' for leaseholders. They will also consult on banning building insurance remuneration fees through service charges, amending valuation rates for enfranchisement premiums, implementing new consumer protection measures for residential freeholders, and publishing a Draft Leasehold and Commonhold Reform Bill in the second half of next year.
Key Facts
- The Leasehold and Freehold Reform Act 2024 was passed by the previous government.
- Section 49 increases the non-residential floorspace limit for right to manage claims from 25% to 50%.
- The Act includes measures to make it cheaper for leaseholders to enfranchise, ban building insurance remuneration fees, and improve consumer protection provisions for residential freeholders.
- A Draft Leasehold and Commonhold Reform Bill will be published in the second half of next year.
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