Leasehold
The question
To ask the Secretary of State for Housing, Communities and Local Government, what her planned timetable is for laying regulations under the Leasehold and Freehold Reform Act 2024 to increase standard lease terms to 990 years.
Answered by Matthew Pennycook
The Governments intend to act quickly to provide homeowners with greater rights, powers, and protections over their homes by implementing the provisions of the Leasehold and Freehold Reform Act 2024. These include a new right to a lease extension for leaseholders of both houses and flats, for a term of 990 years at a peppercorn ground rent on payment of a premium, and reforms to drive up the transparency of service charges to make them more easily challengeable if leaseholders consider them to be unreasonable. We will set out details in due course about the extensive programme of secondary legislation need to bring the Act into force.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →