15:35 PM, 21st July 2020, About 2 years ago 8
The Law Commission of England and Wales has published recommendations to transform home ownership. It has been estimated there are at least 4.3 million leasehold homes in England alone. If enacted our reforms would help those owners and pave the way for a system where flats are sold with freehold title (as part of a commonhold).
These reforms work in tandem with planned changes from the Government to create fit-for-purpose home ownership across England and Wales. The Commission’s reforms will lay the foundations for future home ownership to be freehold and tackle some key issues that existing leaseholders currently face.
This would be done by:
Reinvigorating commonhold which allows people to own a flat forever, with a freehold title and no landlord as an option to replace leasehold for newly-built flats. Recommended reforms would also give leaseholders a route out of leasehold by making it easier to convert to commonhold.
Improving the current system for existing leaseholders by:
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