New rules ‘the first step in a whole raft of government reforms’

The leasehold reform bill, which concluded its journey through parliament last week, is the first step in a whole raft of government reforms designed to protect leaseholders, according to Eddie Hughes, the secretary of state for rough sleeping and housing.

The leasehold reform bill, which looks to restrict ground rents for future leaseholders, has been criticised by a number of property professionals for excluding existing leases from the ban, leaving a number of leaseholders still facing thousands of pounds of ground rent each year.

However, Hughes has told EYE that further action will be taken to address issues with existing leases.

He said: “I am delighted that we have put an end to ground rent charges for future homebuyers, as our ambitious reforms become law.

Read the full article on Property Industry Eye | FEBRUARY 15, 2022 | MARC DA SILVA