Legal News

Law Society encourages government to incentivise commonhold ownership

Published on: 08 January 2021
Published by LNB News

LNB News 08/01/2021

Document Information

Issue Date: 08 January 2021

Published Date: 08 January 2021

Jurisdiction(s): England and Wales

Article summary

The Law Society has welcomed the government’s announcement of reforms to the rights of leaseholders. However, noting that very few commonholds have been created since they were introduced in 2004, the Law Society warns that more must be done to allow commonhold ownership to flourish, including incentives for developers, lenders and buyers. Law Society president, David Greene, stated that the reforms ‘should deliver real benefits for current leasehold homeowners and future buyers, many of whom are being failed by the current system'. This would occur by helping people ‘avoid expensive ground rents and make it easier for them to buy the freehold of their home'.

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