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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