Hornchurch & Upminster MP, Julia Lopez, has welcomed news that the landmark Leasehold and Freehold Reform Act became law on Friday 24 May after completing its passage through Parliament.
The passing of this legislation honours a 2019 manifesto commitment and, crucially, grants freehold homeowners on private and mixed tenure estates the same rights as leaseholders. In February, Mrs Lopez met with freeholders on the St. George's Park estate who had outlined concerns in this area and requested that these vital protections be implemented through the then draft legislation. The next week, Mrs Lopez met directly with the Minister for Housing, Planning and Building Safety, Lee Rowley MP to make the case. The Minister committed to tackling this issue and the successful passing of the legislation ensures that these protections will become law.
The Act includes a range of other measures to grant homeowners more rights, power and protections over their homes including:
- increase the standard lease extension terms to 990 years for houses and flats
- provide greater transparency over service charges
- remove barriers for leaseholders to challenge unreasonable landlord charges at Tribunal
- ban the sale of new leasehold houses - other than in exceptional circumstances
- ban excessive buildings insurance commissions for freeholders and managing agents
- scrap requirements for a new leaseholder to have owned their house or flat for two years before they can buy or extend their lease
- making it easier and cheaper for leaseholders to take over management of their building, allowing them to appoint the managing agent of their choice
Mrs Lopez said:
The Leasehold and Reform Act is a vital piece of legislation, affording both freehold and leasehold homeowners more protections. For many years, I have been pleased to work with the Minister for Housing, Planning and Building Safety, Lee Rowley MP, to support leaseholders on the Kings Park estate with cladding and fire safety concerns and I am glad that we have, once again, been able to work together to deliver greater transparency and protection to freeholders in the St. George's Park estate.
