Leasehold reforms set out amid concerns over delays

Quick Summary:

Campaigners say the overhaul is welcome but will not come fast enough to help existing leaseholds.

Announcing a new timetable for reform, Housing Minister Matthew Pennycook said that commonhold - where people own their homes without an expiring lease - will become the default tenure before the next election.

Millions of leaseholders currently own the right to use their property for a period of time and can pay hundreds in annual ground rent to a freeholder - on top of separate service charges.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: Business

Markets: United KingdomIreland

Topics: Current Leasehold Housing Reform Leaseholders Pennycook Government England Charges Service

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 19:30:58 (15 hours ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 641 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 23743598

View Article Analysis

About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 8 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 10 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #43

Publisher Details

Frequently Asked Questions