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Matthew Pennycook MP stated that leasehold remains a barrier to a fair and efficient property market and confirmed that the UK Government aims to ‘get the job done’ by the end of this Parliament, making commonhold the default tenure for new flats. However, he also stated that reform must be phased to avoid legal, administrative and market disruption — meaning the five million existing leases in England and Wales will not end immediately.
The Interim Measures Alarm Fund (IMAF) is designed to improve resident safety while reducing the financial burden on leaseholders in buildings awaiting remediation. The fund marks a continuation—and expansion—of efforts to address building safety following the Grenfell Tower tragedy, while also aligning with long-standing industry calls, including Propertymark’s campaigning, for practical and cost-effective interim safety solutions.
The Housing, Communities and Local Government Committee is examining whether the Draft Commonhold and Leasehold Reform Bill will strengthen the rights of leaseholders and effectively pave the way for commonhold in practice. We’ve provided written evidence, based on feedback from members, which focuses on the areas where change is most urgently needed to support agents and consumers and create a housing market that functions more effectively.
The UK Government has published the Draft Commonhold and Leasehold Reform Bill and launched a consultation on banning leasehold for new flats, marking a significant moment in the long-running debate over leasehold reform. For Propertymark, this represents a major milestone after nearly 10 years of sustained campaigning against leasehold, poor practices, and unfair ground rents.