In an article for Property Reporter and PrimeResi, partners Michael Ellis and Kate Stockdale examine how the draft Commonhold and Leasehold Reform Bill is set to transform property ownership in England and Wales, and consider the steps landlords, across both freehold and leasehold interests, should take to prepare.
A fundamental shift in the residential leasehold system is on the horizon. Under the draft Commonhold and Leasehold Reform Bill (“the Bill”), commonhold is set to become the default form of ownership for new apartment developments, while annual ground rents will be subject to a cap.
What will this mean for current and prospective freehold and leasehold owners, and is there anything they should be doing now to prepare before the Bill is enacted?
Read the full Property Reporter article here.
Read the full PrimeResi article here.