Major concerns for the property sector have been reiterated in letters issued by Propertymark to outline actionable points for levelling up our country and communities.
Clauses which see ground rents doubling in price every ten or fifteen years are to be removed from contracts supplied by Countryside Properties (Countryside).
The Competition and Markets Authority (CMA) has announced progress for groups of existing leaseholders, as a result of their investigations.
As the Leasehold Reform (Ground Rent) Bill makes its way through Parliament, Propertymark’s research was used to explain why the Bill is the first step in addressing the scandal leaseholders have faced for years.
An advisory panel of leasehold and industry groups has been launched to inform the UK Government on the future of commonhold homeownership, with the aim of giving people greater control over the costs of homeownership.
The Leasehold Reform (Ground Rent) Bill has been published today, and when implemented aims to help tackle inconsistency and ambiguity of ground rents for future leaseholders.
The UK Government announced their plans for the next parliamentary session in the Queen’s Speech today. The plans include several significant changes to planning rules, a new Building Safety Regulator, ground rents and the next steps for Renters Reform.
On 6 April, Mayor of London, Sadiq Khan announced his manifesto ahead of the local elections in May 2021 with some key policy announcements that impact the housing sector, including proposals to introduce rent controls in the private rented sector.
The Ministry of Housing, Communities and Local Government (MHCLG) has opened a call for evidence to support the UK Government’s decision to review measures on commercial lease evictions in England.
On 7 January 2021, the UK Government announced reforms with the intention of making it easier and cheaper for leaseholders to buy their homes in England.
The Competition and Markets Authority (CMA) has told Countryside Properties and Taylor Wimpey to remove certain contract terms that require leaseholders to pay ground rents that double every ten or 15 years.
The Welsh Government has published new research into the sale and use of leaseholds where the Housing Minister, Julie James MS, sets out her intentions for reforming the sector. The action plan considers other evidence from the Task and Finish Group on Leasehold Reform and recommendations made by the Law Commission.
Housing Secretary, Robert Jenrick has announced that millions of leaseholders will be given the right to extend their lease by a maximum term of 990 years at zero ground rent as part of the biggest reforms to English property law for forty years, fundamentally making home ownership fairer and more secure.
NAEA Propertymark has been continuing its campaign to keep leasehold reform high on the Government’s agenda, receiving positive feedback from a senior minister, despite competition with other pressing issues like COVID-19 and Brexit.
The Housing, Communities and Local Government Committee released their report on the draft Building Safety Bill this week outlining their concerns that the draft does not do enough to protect leaseholders.
As part of its ongoing investigations the Competition and Markets Authority (CMA) has today, 4 September, opened enforcement cases having uncovered troubling evidence of potential mis-selling and unfair contract terms.