LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LondonWallet
No Result
View All Result

Propertymark welcome leasehold reform plans – London Wallet

Mark Helprin by Mark Helprin
November 1, 2023
in Real Estate
Propertymark welcome leasehold reform plans – London Wallet
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

What is currently happening in the UK property market? – London Wallet

CoStar strikes back: OnTheMarket owner hits out at investor criticism – London Wallet

HMRC ‘committed’ to helping property businesses navigate legal obligations – London Wallet

Propertymark has welcomed government plans to introduce new legislation to further reform the leasehold system.

A bill to phase out some leaseholds in England and Wales will be included in the King’s Speech next week, the housing minister Rachel MacLean confirmed last weekend.

The speech on 7 November, which sets out government plans for the coming year, will include the long-promised change to the controversial leasehold system, which has seen expensive fees imposed on homeowners.

The bill is expected to ban leaseholds for new houses, but not new flats.

The new bill would “restore true home ownership to millions of people and end the reign of rip off freeholders + incompetent profiteering management companies”, said MacLean in a social media post.

She did not provide further details, but posted a link to an article in the Sunday Times which reports that the UK Government would cap all existing ground rents at a very low rate, known as a “peppercorn” rate, and extend the standard contract lease extension from 90 years to 990 years.

The Department for Levelling Up, Housing and Communities (DLUHC) estimates that there are almost 5 million leasehold homes in England, 70% of which are flats. Almost all flats are sold on a leasehold basis compared to 7% of houses.

Shadow minister for Levelling Up, Housing, Communities and Local Government, Matthew Pennycook, responded to the announcement by stating that if no further measures will form part of the King’s Speech leaseholders will have been failed, adding that Labour would fundamentally and comprehensively reform the leasehold system.

But Timothy Douglas, head of policy and campaigns at Propertymark, has welcomed the proposals.

He said: “Many agents and leaseholders will be relieved to hear of plans for new legislation to further reform the leasehold system. Enfranchisement must be made easier, loopholes in redress must be closed, ground rent restrictions must be extended, and the UK government must ensure any legislation to abolish leasehold improves consumer confidence and is fit for purpose.”

 

Leasehold law to feature in King’s Speech, housing minister confirms

 





Source link

Share30Tweet19
Previous Post

Hundreds of schools close as support staff take strike action

Next Post

Property sector most at-risk for cyber attacks, data suggests – London Wallet

Mark Helprin

Mark Helprin

Recommended For You

What is currently happening in the UK property market? – London Wallet
Real Estate

What is currently happening in the UK property market? – London Wallet

January 30, 2026
CoStar strikes back: OnTheMarket owner hits out at investor criticism – London Wallet
Real Estate

CoStar strikes back: OnTheMarket owner hits out at investor criticism – London Wallet

January 30, 2026
HMRC ‘committed’ to helping property businesses navigate legal obligations – London Wallet
Real Estate

HMRC ‘committed’ to helping property businesses navigate legal obligations – London Wallet

January 30, 2026
Major policy delay gives landlords more time to prepare, angering campaigners – London Wallet
Real Estate

Major policy delay gives landlords more time to prepare, angering campaigners – London Wallet

January 30, 2026
Next Post
Property sector most at-risk for cyber attacks, data suggests – London Wallet

Property sector most at-risk for cyber attacks, data suggests - London Wallet

Related News

Supreme Court to rule on Rwanda asylum policy

Supreme Court to rule on Rwanda asylum policy

November 15, 2023
Ukrainian forces kill more than 308,000 Russian troops since start of the war

Ukrainian forces kill more than 308,000 Russian troops since start of the war

November 10, 2023
Five injured after e-bike fire in 18-floor block of flats in Hammersmith

Five injured after e-bike fire in 18-floor block of flats in Hammersmith

July 20, 2024

Browse by Category

  • Business Finance
  • Crypto
  • Industries
  • Investing
  • jutawantoto
  • Markets
  • Opinion
  • Real Estate
  • UK

London Wallet

Read latest news about finance, business and investing

  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2025 London Wallet - All Rights Reserved!

No Result
View All Result
  • Checkout
  • Contact
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms and Conditions

© 2025 London Wallet - All Rights Reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?