UK government plans to reform the leasehold system by 2029, ending its "feudal" practices.

The UK government plans to overhaul the leasehold system, aiming to end its "feudal" nature by 2029. Starting in January, leaseholders can extend leases or buy freeholds without a two-year restriction. By next spring, leaseholders in mixed-use buildings can take over management, and by mid-2025, the government will ban new leaseholds and outline commonhold reforms. The government will also consult on challenging unreasonable service charges and setting valuation rates for lease extensions.

November 21, 2024
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