Commission proposes leasehold reform

The Law Commission has proposed radical reforms for leaseholders who want to purchase the freehold or extend the lease of their home, in a consultation paper, Leasehold home ownership. The proposals aim to make the process easier, quicker and cheaper; improve leaseholders’ rights; introduce a simpler unified procedure for houses and flats; and remove the minimum two-year ownership limitation on purchase. The Commission has also suggested options to make leasehold cheaper to buy and extend while compensating landlords. The consultation closes on 20 November. Law Commissioner Professor Nick Hopkins said: ‘The current system is complex, slow and expensive and it’s failing homeowners.’