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Leasehold Abolition Delayed: Government U-turn

  • Writer: Sarah Ruivivar
    Sarah Ruivivar
  • May 4
  • 1 min read

The government has hit the brakes on its plan to ban new leasehold properties, pushing the deadline to after the next General Election in 2029.


Housing Minister Matthew Pennycook spilled the beans, citing "complex trade-offs" as the reason for the delay.


The draft Leasehold and Commonhold Reform Bill, unveiled earlier this year, aims to cap ground rent and make commonhold the default tenure. But transforming millions of leasehold titles is no walk in the park, with the mortgage market and HM Land Registry facing a mammoth task.


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Pennycook assures that the end of leasehold won't be a dramatic curtain drop but a gradual phase-out, offering escape routes for current leaseholders. However, not everyone is buying it. Harry Scoffin from Free Leaseholders isn't thrilled, pointing out the government's hefty majority and questioning the excuses.


So, while the leasehold saga continues, it seems the property world will have to wait a bit longer for this chapter to close. Stay tuned for more twists and turns!


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Access from your preferred podcast provider by clicking here



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