Napier Watt Logo
Valuation
Menu
Nov 2023

Leasehold and freehold reforms announced

Leasehold and freehold reforms announced

The King’s Speech at the State Opening of Parliament has outlined the content of the government’s Leasehold and Freehold Bill in England and Wales. The Bill will make it cheaper and easier for leaseholders owning houses and flats to buy the freehold and removes the requirement for a leaseholder to have owned the property for two years before they can apply to extend the lease.

The 25% non-residential limit in mixed use buildings with homes and commercial premises will be increased allowing leaseholder in buildings with up to 50% non-residential floorspace to buy their freehold or take over its management.

Other rights and protections in the Bill include:

  • Setting a maximum time and fee for information to be provided to make a sale to a leaseholder by their freeholder.
  • Requiring transparency over service charges.
  • Removing building insurance commissions for managing agents.
  • Extending redress schemes for leaseholders to challenge poor practice.
  • Expanding on measures in the Building Safety Act 2022 to ensure freeholders and developers can’t escape liability for remediation work.

The first sitting of the Public Bill Committee is expected to be in mid-November and the committee will report back by Tuesday 5 December. We will bring you any updates as they are announced. to once per 12-month period, removing no fault evictions and strengthening Section 8, allowing landlords to recover their property in certain circumstances.

Share with friends and family
Recent news articles
Getting ready to move?

Find out how much your property is worth today by booking a valuation with one of our expert team and see where it takes you. You could be pleasantly surprised.

Call us today on +44 (0)20 7935 0011
Book a valuation
Napier Watt are visiting the Middle East this February…
The directors of NapierWatt will be in visiting in Dubai and Abu Dhabi this week until 16th February. Jonathan Adams and Louise Torkmorad are looking forward to catching up with clients both existing and new, banks and lawyers, sharing our intel with investors and stakeholders and speaking at the exclusive event at Manor Hotel, Jebel Ali in Dubai on 6th.
Call us today on +44 (0)20 7935 0011
Read more...
Some kind words from our clients…

“Thank you Jonathan and the whole team at Napier Watt for marketing and executing the sale of Buckingham Mews so brilliantly.”

“Fawne in the property management team was extremely efficient and helpful in resolving a number of issues we had at our property – very professional.”

“Very Professional!!
Great list of properties they have. Really made the moving in process very easy and quick.”

“The team did a great job in finding a reliable buyer for my property within a short space of time. The sale went through smoothly Will be instructing them again on my next property.”

We use cookies on this website. You are free to manage cookie settings via your browser at any time. To learn more about how (and why) we use cookies, please take a look at our Privacy Policy.

Ok, got it!