Useful information
 

The Leasehold and Freehold Reform Act 2024

Although The Leasehold and Freehold Reform Act 2024 is now law there is still much to be implemented.

The main issue for many of our clients is lease extension. The benefits to leaseholders under the Act include making it easier and cheaper for some but possibly not all, to extend their lease and/or buy their freehold as well as increasing the standard lease extension term from 90 to 990years and removing the ground rent element of the lease.

The government are holding a 12 week consultation to gather opinions on proposals.

There is at present no date given for when a final decision will be made on how the law will look, nor is there any indication on how long it will take to implement the changes.