The Leasehold and Freehold Reform Bill, set to be introduced in parliament today, marks a significant move to ban the creation of new leasehold houses in England and Wales. The bill aims to deliver new rights and protections, curb unfair costs, and combat exploitation. The proposed reforms include capping existing ground rents, making it easier for leaseholders to acquire their freehold, and addressing punitive service charges. The standard lease extension term will also be increased to 990 years, ensuring secure, ground rent-free ownership for leaseholders. The legislation aligns with the government's Long-Term Plan for Housing, seeking to enhance homeownership for millions of leaseholders by simplifying processes and reducing costs. See attached link to Property Industry Eye article for more information. https://lnkd.in/e_kqa47h #sellinghouses #homestaging #marketing Elaine Penhaul Kathy Burke Kate Foster Gemma Goulding
