LATEST NEWS & UPDATES
 

APRIL 2024

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Leasehold Reform

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LEASEHOLD AND FREEHOLD REFORM BILL

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The Committee Stage of this Bill in the House of Lords is scheduled for the following dates:-

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22 April

24 April

29 April

1 May

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A wide range of amendments have been put forward for consideration at the Committee Stage including the following from the Earl of Lytton:-

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• the re-introduction of the Building Safety Remediation Scheme put forward previously by him (i.e. the re-worked Polluter Pays Scheme)

• Trusthold and Service Charge amendments for the protection of Leaseholders

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Full details of these proposed amendments can be found via this link:

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RENTERS REFORM BILL

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The Report Stage and Third Reading of The Renters Reform Bill in the House of Commons took place on 24 April

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The Bill still has to work its way through the House of Lords but in its current version, Clause 25 of Chapter 2 of Part 1 of the Bill amends Part 1 of Schedule 1 of the Housing Act 1988 to make it clear that long Leases of residential property cannot be assured tenancies

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Assuming that Clause remains then that will end the need for a Deed of Variation to overcome the current Housing Act problem which arises when Ground Rents exceed £250 per annum (or £1,000 per annum in London)

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GROUND RENT CAP

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If current rumours are to be believed, whilst the Government have ruled out reducing existing Ground Rents to a peppercorn, they are proposing to introduce, by way of amendment to the Leasehold and Freehold Reform Bill, a cap of existing Ground Rents at £250 per annum and with them ultimately being phased out over a 20 year period. However no such amendments have yet been tabled.

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