At a recent meeting held with residents affected by leasehold arrangements used by developers such as Bellway Homes Limited, Peter Dowd MP outlined the current position in relation to action in Parliament.
The Government has indicated that it wishes to introduce a straightforward and inexpensive system for purchasing the freehold of properties.
Given this and following its consultation process regarding this issue, the Government has now asked the Law Commission to consider a scheme of a type that is reasonable and fair to leaseholders unlike the current system. It has asked the Commission to produce a report this summer. Once the report is produced the Government will consider its findings. If the Government does not introduce a scheme that is fair, inexpensive and straightforward, Justin Madders MP for Ellesmere Port and Neston will reintroduce his Leasehold Reform Bill in October 2018 that seeks to put a fair system for tens of thousands of people into effect.
At the meeting leaseholders were also advised that they may wish to seek independent legal advice given their particular circumstances.