The Law Commission publishes its consultation paper on “Leasehold home ownership: buying your freehold or extending your lease”

Life may become easier for leaseholders to buy their freeholds or extend their leases.

Following several months of review, the Law Commission is proposing reform to the existing legislation in England and Wales in an effort to provide a better deal for leaseholders as consumers.

The Commission’s proposals address concerns of unfairness, inconsistency, complexity and cost of the existing regime which tends to favour landlords.

A summary of the proposals for leaseholders of flats may be found here:

https://s3-eu-west-2.amazonaws.com/lawcom-prod-storage-11jsxou24uy7q/uploads/2018/09/Enfr-CP-Summary-for-leaseholders-of-flats-180920.pdf

Full details of the consultation paper may be found here:

https://www.lawcom.gov.uk/project/leasehold-enfranchisement/

The consultation closes on 20th November 2018.

The final report is due to be put before the Lord Chancellor and published in 2019.

It is certain to generate much debate amongst leaseholders and landlords and it will be interesting to see what legislative changes come from it.

For advice on all aspects of Leasehold please contact Dominic Danvers on 020 3861 5154 or ddanvers@meaby.co.uk.