New Government Reforms For Leaseholders
Reasons to choose Wilson Browne
Housing Secretary Robert Jenrick has announced today that leaseholders will be given the right to extend their lease by a maximum term of 990 years at zero ground rent, as part of the biggest reforms to English Property Law for 40 years.
The changes will make home ownership fairer and more secure for millions of leaseholders who will now be able to extend their lease to a new standard 990 years with a ground rent at zero.
Any leaseholder of a house or flat who wishes to extend their lease on their home will no longer need to pay ground rent to the freeholder, reducing the additional bureaucracy and additional unnecessary and unfair expenses.
More information can be found here
Posted:
Jenny Woodruff
Partner
Jenny is a Partner and head of the Residential Conveyancing Team. She has extensive knowledge of the conveyancing process, including: dealing with freehold and leasehold sales & purchases; new build purchases; remortgages; transfers of equity; shared ownership; help to buy transactions & general property advice.