Government consultation on leasehold reforms in England16.11.2018
In December 2017, the government announced plans to implement reforms to the leasehold system in England and are now currently consulting to gather views on how to go about the implementation. As part of the consultation, the government are seeking views on how they can implement:
· A ban on the unjustified use of leasehold in new build houses
· The reduction of future ground rents to a minimal value
· Measures to ensure that charges freeholders must pay towards the maintenance of communal areas are fairer and more transparent
· Measures to improve how leasehold properties are sold
The news of leasehold reforms will no doubt be welcome news to many, as abuses of the system have long been reported and caused some homeowners to feel trapped within a non-saleable property or forced to pay hundreds in unfair ground rents.
The consultation is open to everyone and calls for a range of parties to contribute. If you’d like to contribute your views, you have until midnight on Monday 26th November to do so. This article from LEASE further explains the points which the government are consulting on, which you may find useful to consider.
At Austin Gray, we are experts in professional services concerning leasehold matters and can provide advice around what planned reforms mean for you. If you’d like to find out more, please contact Chartered Surveyor and Partner, Stewart Gray.