For generations politicians have talked about reforming the leasehold system, I’m delighted to see that it’s finally being sorted out. It’s wrong that people buy a flat, only to find their landlord has been replaced by a freeholder, and they’re still subject to fees and uncertainty. These changes will save families £100s of pounds but most importantly give people peace of mind for the future
The Government’s announcement that ground rents will be capped at £250 a year, a long overdue step that will make a real difference to leaseholders in Bristol North East. The Prime Minister Keir Starmer and the Secretary of State for Housing, Communities and Local Government, Steve Reed, confirmed the cap as part of a wider package of measures.
Alongside the cap, the Government has published the draft Commonhold and Leasehold Reform Bill, which will strengthen the rights and protections of more than five million leaseholders. The Moving to Commonhold consultation has also opened, giving people the chance to shape the next phase of reform.
The announcement also builds on the recently passed Renters Rights Act and Labour’s landmark planning reforms, aimed at ensuring everyone has a safe and secure home.
You can read more details here: https://www.gov.uk/government/publications/draft-commonhold-and-leasehold-reform-bill
