Department for Levelling Up, Housing and Communities written question – answered on 13th March 2023.
To ask the Secretary of State for Levelling Up, Housing and Communities, whether he plans to implement the recommendations of the report by the Law Commission entitled Leasehold home ownership: buying your freehold or extending your lease, published on 21 July 2020; and whether he plans to review the calculation relating to the lease extension premium
The Government has committed to making enfranchisement cheaper for leaseholders by reforming the process of valuation they must follow to calculate the cost of extending their lease or buying their freehold. We will abolish marriage value, cap ground rents in the calculation, prescribe the rates to be used and introduce an online calculator.
On 11 January 2022, the Government launched a consultation on a number of recommendations made by the Law Commission aimed at broadening the rights of leaseholders, and reinvigorating commonhold.
The consultation closed on 22 February 2022 and we received over 2000 responses. We are currently analysing the feedback and we will provide a response in due course.
Yes3 people think so
No7 people think not
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