The government plans to replace leasehold with commonhold, recently consulting on the ‘best approach to banning new leasehold flats’. In this week’s NLJ, Mark Chick, senior partner at Bishop & Sewell, argues the case for reform rather than an outright ban
Chick considers the challenges that accompany commonhold, such as management of mixed-use blocks. He highlights some of the advantages of leasehold—flexibility, predictability and protection of leaseholders from any freeholder debts.
He shares the results of a recent Association of Leasehold Enfranchisement Practitioners survey, in which ‘specific benefits of leasehold were identified, such as the flexibility that it provides to the market and the effective management of multi-occupancy buildings. The longevity of the existing system was also cited as evidence that it is the best available option and would be extremely complicated to replace.’
Issue:
8121
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Categories:
Legal News
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Property
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Profession
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Leasehold
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Housing
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Landlord&tenant
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