Leasehold: Reform

Department for Levelling Up, Housing and Communities written question – answered at on 8 February 2024.

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Photo of Bill Wiggin Bill Wiggin Chair, Committee of Selection, Chair, Committee of Selection, Chair, Committee of Selection

To ask the Secretary of State for Levelling Up, Housing and Communities, whether his Department has made an assessment of the potential impact of abolishing marriage value under schedule two of the Leasehold and Freehold Reform Bill on the finances of freeholders.

Photo of Bill Wiggin Bill Wiggin Chair, Committee of Selection, Chair, Committee of Selection, Chair, Committee of Selection

To ask the Secretary of State for Levelling Up, Housing and Communities, if he will make an assessment with Cabinet colleagues of the potential impact of abolishing marriage value under schedule two of the Leasehold and Freehold Reform Bill on the transfer of wealth overseas by freeholders.

Photo of Bill Wiggin Bill Wiggin Chair, Committee of Selection, Chair, Committee of Selection, Chair, Committee of Selection

To ask the Secretary of State for Levelling Up, Housing and Communities, if he will make an estimate of the average value of residential properties with remaining leases of (a) 80 to 71, (b) 70 to 61, (c) 60 to 51, (d) 50 to 41, (e) 40 to 31, (f) 30 to 21, (g) 20 to 11 years and (h) 10 or fewer years.

Photo of Lee Rowley Lee Rowley Minister of State (Minister for Housing)

The impact assessment for the Leasehold and Freehold Reform Bill can be found here. This includes an estimate of the impact of removing marriage value.

The impact assessment also contains information on estimates of the aggregate number of leases below 80 years.

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No2 people think not

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