A government white paper issued this week has set out plans to reinvigorate commonhold and make it the default tenure.
The ‘Commonhold white paper’ proposes a ban on any new leasehold flats and measures to give homeowners more control over their homes. The proposals will be introduced via a draft Leasehold and Commonhold Reform Bill, due to be published this year.
Housing and planning minister Matthew Pennycook said: ‘These reforms mark the beginning of the end for a system that has seen millions of homeowners subject to unfair practices and unreasonable costs at the hands of their landlords.’
Commonhold, which gives homeowners full freehold ownership of their property, was introduced in England and Wales in 2002 but is rarely used due to flaws in its legal framework, despite being used successfully elsewhere.
