King's Speech 2024 - Draft Leasehold and Commonhold Reform Bill - Harry Scoffin - LBC News - 17/7/24

In the first King's Speech of a new Labour government committed to publishing draft legislation on leasehold and commonhold reform. Harry Scoffin from the Free Leaseholds campaign group gives his reaction to John Stratford on LBC News.

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● The Government will act quickly to provide homeowners with greater rights,
powers and protections over their homes by implementing the provisions of the Leasehold and Freehold Reform Act 2024.
● The Government will further reform the leasehold system, enacting remaining Law Commission recommendations relating to leasehold enfranchisement and the Right to Manage, tackling unregulated and unaffordable ground rents, and removing the disproportionate and draconian threat of forfeiture as a means of ensuring compliance with a lease agreement.
● The Government will take steps to bring the feudal leasehold system to an end, reinvigorating commonhold through a comprehensive new legal framework and banning the sale of new leasehold flats so commonhold becomes the default tenure.

● The Government will take steps to bring the feudal system of leasehold to an end and reinvigorate commonhold by:
○ enacting remaining Law Commission recommendations to bolster leaseholders’ fundamental rights to extend their lease and buy their freehold (enfranchisement), and take over the freeholders building management functions (Right to Manage).
○ reinvigorating commonhold by modernising the legal framework. We will also restrict the sale of new leasehold flats. The Government will consult on the best way to achieve this, so that generations to come will benefit from absolute homeownership.
○ tackling existing ground rents by regulating ground rents for existing leaseholders so they no longer face unregulated and unaffordable costs.
○ bringing the injustice of ‘fleecehold’ private estates and unfair costs to an end – the Government will consult on the best way to achieve this and implement new protections for homeowners on private estates in the Leasehold and Freehold Reform Act 2024.
○ ending the injustice of forfeiture so that leaseholders are protected against losing savings they have in their home for potentially small unpaid debts.
● In addition, the Government will implement the Leasehold and Freehold Reform Act 2024 so that leaseholders can benefit from more rights, power and protections over their homes.