Housing Matthew PennyCook has confirmed specific changes in the context of the Leasehold and Freehold Reform Act.
In a statement he wrote: “Today I signed regulations to abolish the two -year rule of property for tenants of flats to extend their lease, and tenants from Huizen to extend their lease agreement or to buy their property.”
In the first royal speech of the new government, reporting was made of action against lease rights.
In September, the government promised to “act quickly” to let the Leasehold and Freehold Reform Act 2024 come into effect, which was urgently adopted in the last days of the previous parliament.
This new legislation specified that leaseholders no longer have to be the owner of a property for two years before they can extend their lease or can buy full ownership. The new rules would also prohibit the sale of new lease homes and hidden insurance lenses.