There has been a fair amount of legislative change proposed recently that will be of relevance to leaseholders and freeholders!
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This article takes a brief look at the parliamentary road ahead for the Bill and suggests a few key points for clients to consider.
There have been numerous reforms, and a great deal of talk about future changes, since the Government announced that it was going to tackle the question of reforming leasehold ownership.
On Tuesday 11 December 2023, the Leasehold and Freehold Bill passed its Second Reading in the House of Commons.
Leasehold and Freehold Reform Bill – Analysis and Reaction From The Property Institute.
Millions of homeowners in England and Wales will be given greater rights, powers, and protections over their homes as part of the most significant reforms to the leasehold system for a generation under the new Bill.
The announcement of a Leasehold Bill could bring good news for property valuers, conveyancers and the 4.9 million homeowners in England and Wales under with leases – or it could fuel confusion, cost and controversy.
The proposal for a Leasehold and Freehold Bill in the King’s Speech on 7 November 2023 demonstrates an ongoing and determined commitment by the government to reform of the residential leasehold sector – and for leaseholders and freeholders, there are immediate questions and considerations.
Leasehold reform and Renters’ Rights are at the heart of the King’s Speech today- comments from Irwin Mitchell.
The Levelling Up and Regeneration Bill (“the Bill”) is making its way through the final stages of the legislative process.