Thursday, January 07, 2021

Reforming leasehold tenure

Today the government announced reforms to make it easier and cheaper for leaseholders to buy their own homes and extend their leases, expanding the opportunity of home ownership for millions of people across the country.

  • Across the country, people are struggling to realise the dream of owning their own home, but find the reality of being a leaseholder far too bureaucratic, burdensome and expensive.
  • That is why, as part of the biggest reforms to English property  law  for  forty years, the government is are giving millions of leaseholders the right to extend their lease by a maximum term of 990 years at zero ground rent, which could save households thousands of pounds.
  • These reforms will make it cheaper and simpler for leaseholders to buy their own properties, making home ownership fairer, more secure and more accessible for millions of people

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