My January 21 blog informed readers of the surprise announcement of Robert Jenrick’s announcement to implement sweeping reforms to the Leasehold Reform Acts.
No legislation has as yet been passed and the only news we had was an intention to introduce the reforms following the Law Commission’s reports in the next session of Parliament which would not be before April 22.
On 11th January, the Department for Levelling Up, Housing & Communities made a further announcement which is hugely watered down from that made a year earlier.
In short, government has announced only a consultation inviting views on minor changes to a tenant’s right to collectively enfranchise. There is nothing in respect of making the process of extending one’s lease on the proposed 990 year lease instead of the current additional 90 years or acquiring the freehold of your house on a cheaper basis as heralded a year ago including the proposed abolition of marriage value for all leases under 80 years.
The huge reforms promised a year ago, if they ever will come before parliament, is likely to be delayed for many years.
Tenants wanting to acquire their freehold or extend their leases should not be put off waiting especially if their leases are getting close to 80 years unexpired or are getting materially shorter if under 50 years unexpired.