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Leasehold changes - When are they extected to change and is there anyway to calculate
Mike_22
Posts: 5 Forumite
Hi,
I'm trying to decide if I should extend my lease now or wait till the governent leasehold changes, does anyone know when these changes are due to come in? Also is there anyway to calculate the cost of an extension base on the new rules?
Thanks for any advice
Mike
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Comments
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There are no "new rules".
There might be, at some point in the future, but there might not be.
If there are, there is only a vague statement of intent on what they might be.
https://www.gov.uk/government/news/government-reforms-make-it-easier-and-cheaper-for-leaseholders-to-buy-their-homes
That is the ENTIRETY of detail so far.
Draft legislation has to be written and published.
It has to go through both houses of parliament, with amendments drafted, and be voted on.
Then it has to be passed into law.
And all of this presupposes the government actually find time and inclination for it, beyond the current headline "We'd really quite like to...".
The next election is in May 2024. Just over three years. Will it all be done and dusted by then?
Will the PM or responsible ministers change before then?
Will it simply peter out in the long grass?
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Mike_22 said:does anyone know when these changes are due to come in?No.
No.Mike_22 said:Also is there anyway to calculate the cost of an extension base on the new rules?All the government has done so far is say that they are going to look at the rules at some unspecified point in the future with a view to changing them. The changes could happen in a few years, or never. They haven't even begun drafting what the new legislation could possibly look like yet, never mind the complexity of it being approved by all parties and actually passed.1 -
Thank you both for the clarification, I was finding it hard to find any clear information online.
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Do write to your MP about it. The more leaseholders who take up the issue by writing to their MP's the more it helps to keep the issue on the radar.Mike_22 said:Thank you both for the clarification, I was finding it hard to find any clear information online.
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