It has just been announced that legislation is being put before the House of Commons that will do much to ease the plight of leaseholders.
The cursed "Marriage Values" that add so much to the cost of exrtending a lease when it falls below 80 years is going. A standard statutory lease extension will now be for 990 years. That will stop the Tchenguiz inspired gaming of the system.
In addition ground rents for extended leases will be set at zero.
Extending or enfranchisement will be costed using a set calculation which will be readily available as an on line calculator to both freeholders and leaseholders.
In addition the scam of £500 ground rents for retirement developments will be going as well.
A system of converting leasehold to commonhold is also being worked on
This is a disaster for Tchenguiz and McCarthy & Stone (and of course Firstport)
Further details will be published when available.
