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ARTICLE · 10 NOVEMBER 2023

The King's Speech: Leasehold Reform

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The Department of Levelling Up Housing and Communities estimates that there are around 4.98 million leasehold homes in England...

United KingdomReal Estate and Construction
Caroline Wild
Caroline Wild
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The Department of Levelling Up Housing and Communities estimates that there are around 4.98 million leasehold homes in England, making up a significant proportion of all residential housing. Impacting on the lives of so many, leasehold ownership has therefore been the subject of much debate over the years.

The existing law allows leaseholders of residential properties to purchase the freehold and/or extend the leases of their houses or flats. However, these rights have been developed piecemeal, and are the product of over 50 Acts of Parliament, totalling 450+ pages of legislation. Unsurprisingly therefore, the system has been criticised as inconsistent and unnecessarily complex, often leading to protracted and expensive legal proceedings.

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