Long awaited leasehold Reform to make owning leasehold property fairer is now on the horizon
Leasehold law reform work will improve lives of millions –Professor Nick Hopkins has pledged that the Law Commission’s leasehold reform recommendations to government will provide a “better deal for leaseholders”.
Announced as part of the the Law Commission residential leasehold and commonhold project aims to improve consumer choice, provide greater fairness, and make the process of enfranchisement easier, quicker and more cost effective.
Professor Hopkins was speaking after the terms for the project were published on the Commission’s website earlier this week. The Commissioner addressed the complexity of the work and urged caution against quick fixes.
Professor Hopkins said:
“We know that, for many, reform cannot come quickly enough. But I would like to sound a note of caution.
“Hasty and rushed legislative reforms are dangerous – and ultimately in no-one’s interest.
“Enfranchisement is hugely complicated. The rules are the product of over 50 Acts of Parliament, totalling over 450 pages.
“And there are numerous stakeholders who need to be consulted before any reform recommendations are made.”
On enfranchisement, the Commission will publish solutions for leasehold houses before summer recess 2018, followed in September by a detailed consultation on a new enfranchisement regime in respect of leasehold houses and flats.