On the 7th of January, Housing Secretary Robert Jenrick announced a collection of reforms to property law designed to making Leaseholding cheaper and easier, hoping that it will help people to own a home in a fairer and more secure way. The highlights of these reforms are:
- Millions of leaseholders will be given a new right to extend their lease by 990 years
- Changes could save households from thousands to tens of thousands of pounds
- Elderly also protected by reducing ground rents to zero for all new retirement properties
You can read the Full Press Release here.
