View 2 Images

The government has issued an update on the leasehold reform that will affect millions of UK households.

Major changes to the leasehold system - a type of property ownership where you own a home for a fixed period but not the land it sits on - could make it easier and cheaper for leaseholders to extend their leases, buy their freehold or take over building management.

Despite the Leasehold and Freehold Reform Act 2024 (LAFRA) receiving Royal Assent under the previous government, many of sections are not yet in force and will require further consultation and secondary legislation to be commenced, UK Parliament says.

The Labour government has committed to implement the act “as quickly as possible”, whilst recognising “the significant complexity of the task and the import

See Full Page