One of the hinderances to the use of Commonhold tenure is an unwillingness of lenders and others involved in the housebuilding sector to introduce it. Using your funding power and strategic partnerships with housing associations – who build many private sale homes – could you support a commonhold pilot programme in London that would engage lenders and other professionals to demonstrate that the tenure can work successfully?
I would support a move toward commonhold ownership and I welcomed the Law Commission’s proposals for reform. My Deputy Mayor for Housing and Residential Development, James Murray, responded to the Law Commission on my behalf and made clear I was willing to work with Government to help remove barriers to take up of commonhold. Following successful reform, I am open to exploring how the GLA can use its range of powers and resources support further take-up in London, including pilot programmes.