Implementing reforms to the residential leasehold system
In our Winter 2018 Newsletter I wrote about the Government consultation on implementing reforms to the residential leasehold system in England (here’s a link: www.griffithsmith.co.uk/news-and-views/newsletters/. The consultation closed in November 2018 and the response has just been published. It is pleasing to see that this contains some eminently sensible proposals for re-balancing the system. There are three main proposals that are relevant to man and woman on the street. These are:
- A ban on unjustified use of new leases for houses.
- A ban on ground rents in new flat leases.
- New rules on the timing and costs of providing replies to management enquiries when a leasehold property is sold.
I will be providing a summary of meaning and effect of these changes over the coming weeks.
Now if the government would only also tell us when these changes will be implemented…