Row of houses on street.

Reforms to make it easier for leaseholders to buy homes

The Government has reformed legislation around leaseholders meaning they can now extend their leasehold by 990 years with zero rent being charged to them.

For years leaseholders have had to pay ground rent on top of their mortgage, leading some to say they were paying 2 bills on something they own.

Freeholders were also free to increase ground rent with little to no benefits being passed on to those being charged, giving a sense of greediness and opportunism to the laws.

This change in law could allow leaseholders to save thousands, if not tens of thousands of pounds over several years.

Housing Secretary Rt Hon Robert Jenrick MP said:

“Across the country people are struggling to realise the dream of owning their own home but find the reality of being a leaseholder far too bureaucratic, burdensome and expensive.

We want to reinforce the security that home ownership brings by changing forever the way we own homes and end some of the worst practices faced by homeowners.

These reforms provide fairness for 4.5 million leaseholders and chart a course to a new system altogether.”

PSE April May Cover

PSE Apr May 21

Establishing a Southern Powerhouse

Our April/May 2021 edition of PSE focuses on embedding social value across our public sector, achieving meaningful digital transformation and delivering apprenticeships which open up significant and long-term employment opportunities for our ever-expanding workforce.

Videos...

View all videos
Cyber Security

Win a £100 Amazon Voucher

Is the Public Sector safe against a cyber-attack?

Have you got 2 minutes to talk to us about cyber security?

PSE has teamed up with Checkpoint, leaders in cyber-security solutions to assess the state of cyber-security in the public sector. 

We want to educate the sector and equip you with the best protection.

Magazine Feature

Keep communities at the heart of planning

Chris Borg, NALC policy manager

Chris Borg discusses the Planning for the Future white paper and explains the importance of residents and local councils having a say when it comes to planning

More articles...

View all