The Leasehold and Freehold Reform Act 2024 has passed into law, ushering in a new era in the residential leasehold sector
It makes it easier for homeowners to extend their lease, increases the standard lease extension to 990 years for houses and flats, scraps the presumption that leaseholders pay freeholders’ legal costs when challenging poor practice, and bans the sale of new leasehold houses.
John Jones, head of residential property at Jackson Lees, said: ‘It does not address all the problems leaseholders face, but it does put them in a better position than before.’
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