Quiz - how well do you understand your lease?
Understand the key things you should know about your lease. If you are a purchaser, this can help make sure your solicitor has covered all of these points and explained them clearly to you.
In March 2018, Wales’s Minister for Housing and Regeneration, Rebecca Evans, announced new measures to tackle leasehold concerns in Wales. Recently, Ms Evans announced that the Welsh Government is joining with the Law Commission’s residential leasehold reform project.
The project’s terms of reference were published by the Law Commission in April 2018. It is investigating ways to make it easier for people to extend or purchase the lease on their home, and will look at ways to make the process easier, quicker and more cost effective.
Professor Nicholas Robinson, Law Commissioner, has stated that the project is on an accelerated timetable. It will see:
- Measures for the owners of leasehold houses given priority, and thus the Law Commission will publish proposed solutions for them before summer recess i.e. by 19 July 2018.
- In September 2018, the Law Commission will conduct a detailed consultation on a new enfranchisement regime in respect of leasehold houses and flats.
- The final report will be published in 2019.