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    Home > News > London Property – The end of Leasehold

    London Property – The end of Leasehold

    Wednesday, March 17, 2021

    The government has announced wide-ranging changes to the planning system, allowing “fast track” permissions to convert retail premises which have outlived their use since the advent of COVID-19, into sorely needed residential stock.

    In a wide-ranging re-jig of the whole system, Housing Secretary Robert Jenrick announced these plans due to become “live” this Autumn.

    Additionally and more significantly, the Government is now looking to scrap the whole leasehold system.  Plans outlining this are currently being prepared and due to be released this Autumn.

    Professor Nick Hopkins, the Law Commissioner commented that “Commonhold involves a culture change.  It would move away from an “us and them” mindset towards “us and ourselves”.

    These changes are driven by Prime Minister, Boris Johnson’s desire to reform the whole property system and radically alter the continual decline in available residential stock over the past 10 years.  Calling the new “incentive” project speed”, Boris Johnson stated that the Government’s objective is simple “build, build, build”.

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    London Estate Agents / Enquiries / Sales

    Tuesday, March 16, 2021

    Nationwide expect a sharp recovery in UK house prices. Rics state that in their April survey sales levels will rebound to their previous levels within 9 months. The overall consensus is one of growth now. Given recent upheavals, it...

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