There is now a clearer timetable for implementing important parts of the Leasehold and Freehold Reform Act 2024 in England.
The changes concern service-charge information, insurance charges and litigation costs. They will affect landlords and leaseholders alike, including resident management companies and right-to-manage companies.
This article looks at the status of the reforms announced so far around the sale of houses of a leasehold basis, ground rents in new leases, the fees payable by leaseholders for essential information needed on sale and the potential changes to the premium payable for a lease extension or freehold.
The Government has recently provided updates on the phased implementation of the Leasehold and Freehold Reform Act 2024 (LaFRA), which represents a landmark shift in property law aimed at improving rights and protections for leaseholders. It has also enacted one of the many provisions.
We explore the latest developments and upcoming reforms following recent statements by the Housing Minister, as well as their implications for leaseholders and freeholders alike.
