LEASEHOLD REFORM…. We still await the much promised law reforms in respect of leasehold property. We were promised in February that legislation, making significant changes to the leasehold system as we know It, would be introduced in the Kings Speech. The leasehold bill is “very complex”. The reforms originally announced in 2021 to date have brought us the Leasehold Reform (Ground Rent) Act 2022 which became law on 30 June 2022 prohibiting ground rents on new leases created from that date but we have yet to have a clear timeframe for the promised further reforms nor a clear indication as to what those reforms may be but we are promised a simpler process.
For any queries contact Linda Ball Senior Associate
Adcocks Solicitors Limited
01543 442113 or Mobile Number 07706720161
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