\nBy the second half of next year, the government will outline how it will ban new leaseholds, after a consultation<\/p>\n<\/li>\n<\/ul>\n<\/div>\n
Ministers will also consult on how leaseholders can more easily challenge unreasonable service charges, and require landlords to get court approval before passing their legal costs on to leaseholders.<\/p>\n
As for current leasehold properties, Mr Pennycook said: “We will also engage on the conversion of existing flats to commonhold.”<\/p>\n
Not all elements of the 2024 bill will be implemented however, as ministers say they have identified flaws “which would prevent certain provisions from operating as intended and that need to be rectified”.<\/p>\n
There are about five million leasehold properties in England and Wales, with some owners saying they have experienced unjustifiably high ground rents or service charges, and issues with carrying out repairs.<\/p>\n
Mr Pennycook said: “Given that millions of leaseholders and residential freeholders are currently suffering as a result of unfair and unreasonable practices, we appreciate fully the need to act urgently to provide them with relief.”<\/p>\n
Natalie Chambers, director of the residential freehold association, said her organisation wanted to working with the government “to deliver meaningful and workable reforms\u201d.<\/p>\n
\u201cWe welcome the government\u2019s recognition of the complexities around implementing leasehold reform, as well as the serious flaws in the legislative approach taken by the previous government,” she said.<\/p>\n
In April, Labour dropped a pledge to introduce legislation abolishing leasehold within the first 100 days of winning power.<\/p>\n
The changes are for England but the Westminster government says it will work closely with the Welsh government to implement reforms there.<\/p>\n
Scotland does not have leasehold tenures, while Northern Ireland has just a handful of leasehold properties.<\/p>\n
The government\u2019s announcement was made after the BBC requested an interview for a day of special coverage Friday 22 November, looking at the scale and impact of leasehold issues.<\/p>\n<\/div>\n<\/div>\n
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