July 2018
In December 2017 Government announced that it would be working with the Law Commission to support existing leaseholders and make the process of purchasing a freehold or extending a lease much easier, faster and cheaper
The Law Commission later published its terms of reference for its Residential Leasehold and Commonhold Project which prioritised leasehold owners of houses in bringing forward proposals for leasehold flat and house owners
The Law Commission has published a summary of proposed solutions for leaseholders of houses.
These include
- Making it easier for leasehold owners of houses to buy the freehold
- Taking away the requirement that such leaseholders should own the house for two years before making a claim to buy the freehold
- Options for changing the valuation formula, having been asked by Government to look at how to reduce the price while providing sufficient compensation to landlords
In September of this year, the Commission will publish a full Consultation Paper putting forward proposals to address wider issues with the law of enfranchisement.
The Commission will publish its final report in 2019
