"Matthew Pennycook stated that the ban on new leasehold properties is unlikely to be switched on during this parliament due to its complexity and the need for careful planning to avoid undermining housing supply."
"The government intends to ban the sale of new leasehold homes, cap ground rents, and encourage the conversion of existing leasehold homes to commonhold, allowing flat owners to manage their buildings jointly."
"Pennycook emphasized the importance of a smooth transition, stating that the objective is to determine a commencement date that aligns all parties involved in the process."
The housing minister stated that a ban on new leasehold properties in England and Wales is unlikely to be implemented before the next election. Although a ban on new leaseholds for houses was passed in 2024, the government plans to address new flats soon. The minister emphasized the complexity of the transition and the need for careful planning to avoid legal issues and housing supply disruptions. The government aims to end the leasehold system, cap ground rents, and promote commonhold ownership among residents.
Read at www.theguardian.com
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