LATEST NEWS & UPDATES
 

JULY 2024

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Leasehold Reform

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LEASEHOLD REFORM

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A new Labour Government is now in office with a large majority

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​Relevant appointments which will affect Leasehold Reform are:

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• Angela Rayner as Secretary of State for the (re-named) Ministry of Housing and Communities and Local Government

• Matthew Pennycook as a Minister of State in the same Ministry

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The State Opening of the new Parliament took place on the 17 July when the King's Speech set out the legislative agenda for the Government​. It included the following:-

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"Draft legislation will be published on leasehold and commonhold Reform [Draft Leasehold and Commonhold Reform Bill]"​

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The Government has said that it will:-

 

• act quickly to provide homeowners with greater rights powers and protections over their homes by implementing the provisions of the Leasehold and Freehold Reform Bill 2024 (that requires secondary legislation/regulations before they will come into force)

• further reform the leasehold system, enacting the remaining Law Commission recommendations relating to leasehold enfranchisement and the Right to Manage, tackle unregulated and unaffordable ground rents and removing the threat of forfeiture as a means of ensuring compliance with the Lease

• take steps to bring the feudal leasehold system to an end, reinvigorating common hold through a comprehensive new legal framework and banning the sale of new leasehold flats, so common hold becomes the default tenure

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​Class action against Freeholders re insurance premiums

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The Leasehold Knowledge Partnership (www.leaseholdknowledge.com) have reported that a class action is being launched against the largest Freeholders over insurance commissions

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