Government consults on banning new leasehold flats, ground rent cap, and transition to commonhold

The Government has now opened a consultation in this regard titled “Moving to commonhold: banning leasehold for new flats”.

The consultation forms part of the next phase of leasehold reform and sits alongside the ongoing implementation of the Leasehold and Freehold Reform Act 2024 (‘The 2024 Act’) and the recently published draft Commonhold and Leasehold Reform Bill (‘The Bill’).

This seeks opinions from leaseholders, landlords and managing agents about how the Bill’s proposed ban on new residential leaseholds should be implemented in practice.

Buying a house with an annexe and Stamp Duty Land Tax

Before you bid for a houses with an annex you need to carefully consider the amount of Stamp Duty Land Tax (SDLT) you will have to pay; it is complicated.

Kings Speech 17th July 2024 - Leasehold and Commonhold Reform

In this, the first of a series of three articles, we look at what it means for residential leaseholders and their landlords with regard to enfranchisement rights (leaseholders rights to extend their lease or acquire the freehold of their house or block) now that the Government has stated that it will implement the provisions of the Leasehold and Freehold Reform Act 2024.

The King’s Speech of 17^th July 2024 announced that the Government’s legislative programme would include draft legislation on leasehold and commonhold reform: the “Draft Leasehold and Commonhold Reform Bill.”

This implied that the Government might have in mind leaving the conservative’s legislation, The Leasehold and Freehold Reform Act 2024, on the shelf and perhaps implement a wider set of reforms and consolidate the existing law following the recommendations made by the Law Commission.