Law Commission Consultation – Leasehold Home Ownership: Buying your freehold or extending your lease.
On Thursday 20th September 2018, the Law Commission published its long awaited consultation report on proposed changes to the regimes whereby leaseholders can either purchase their freehold or extend their leases. As the consultation was branded “Tackling Unfair Practices in the Leasehold Market” it is probably not surprising that wholesale reforms are considered necessary.
Within its 546 pages, various reforms are proposed which appear to move towards adopting one legislative basis for a rationalised, simplified enfranchisement process which will encompass flats, as well as leasehold houses which were primarily the main concern which prompted this area to be looked at.
The full report is here. Interested parties have until 20th November 2018 to respond to the 135 questions which are posed.