The Leasehold and Freehold Reform Act becomes law
Posted 24.05.24
GOV.UK: Further reading
The Leasehold and Freehold Reform Act has become law as at 24 May 2024.
The Act will make it easier and cheaper for leaseholders to buy their freehold, increase standard lease extension terms to 990 years for houses and flats, and provide greater transparency over service charges.
The Act will also remove barriers for leaseholders to challenge their landlords' unreasonable charges at Tribunal.
It will further ban the sale of new leasehold houses other than in exceptional circumstances, end excessive buildings insurance commissions for freeholders and managing agents, and scrap the requirement for a new leaseholder to have owned their house or flat for two years before they can buy or extend their lease.
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