The Law Commission has published a Consultation Paper on leasehold enfranchisement reform, “Leasehold home ownership: buying your freehold or extending your lease”. The paper, together with a Summary, can be found at the following link: lawcom.gov.uk/project/leasehold-enfranchisement/.
The Law Commission states the Consultation Paper concerns the enfranchisement rights of leaseholders of both houses and flats. They make provisional proposals for reform designed to enhance and improve enfranchisement rights, and provide a new unified procedure for all claims. The purpose behind their provisional proposals is to make the enfranchisement process easier, cheaper and quicker.
As requested by Government, they have set out options for reducing the price payable by leaseholders in order to exercise their enfranchisement rights, whilst ensuring sufficient compensation is paid to landlords to reflect their legitimate property interests.
The consultation period runs until 20 November 2018 and we would welcome your response. Details on how to submit a response can be found on the webpage above.