💨 Abstract

The upcoming Leasehold and Freehold Reform Act aims to simplify and reduce the costs of extending leaseholds or buying freeholds, making it easier for people to purchase properties with shorter leases. This reform has led to increased interest in such properties, as they may become more valuable after the law takes effect. The act will increase the standard lease extension to 990 years with minimal ground rent, potentially making leasehold properties more attractive and cheaper to buy.

Courtesy: Eleanor Noyce