Marriage value fee

The8olt73

Hi,  Does anyone know if or when the government may be abolishing the marriage value fee in the lease  reforms. 
I have to renew my lease as it only has around 68 years and its hard to get remortgage. The marriage value fee is a lot of extra cash I could do without having to find.

Slithery

The8olt73 said:

Hi,  Does anyone know if or when the government may be abolishing the marriage value fee in the lease  reforms.

No. Nobody knows when this will happen (or even if it will).

eddddy

The8olt73 said:

Does anyone know if or when the government may be abolishing the marriage value fee in the lease  reforms. 

If marriage value goes away - it will almost certainly be replaced by something else.

My guess is that whatever replaces it will make lease extensions slightly cheaper (to try to win votes from leaseholders)...

... but not too much cheaper, because of pressure from freeholders.


For example, some pension funds own freeholds. So the government are unlikely to want to reduce the value of people's pension pots, by allowing leaseholders to have cheaper lease extensions.

saajan_12

The8olt73 said:

Hi,  Does anyone know if or when the government may be abolishing the marriage value fee in the lease  reforms. 
I have to renew my lease as it only has around 68 years and its hard to get remortgage. The marriage value fee is a lot of extra cash I could do without having to find.

No idea on timing
No idea on whether it will apply to exisitng leaseholds or just new ones
No idea on whether anything will get passed at all. 

There's also the likely risk that your marriage value fee will increase in the time while you're waiting for something that may or may not help you.. 68 years is not THAT low, compared to 63 or even 58 years if it takes another 5-10 years. 

london21

The lease is getting low, better to start the renewal process to avoid further excessive charge to renew. 

Jeffrey_Shaw

YES, to that last post.

As far as I know, no new Bill abolishing Marriage Value has even been published, let alone tabled in Parliament.

Even when is is tabled, it is likely to take some months for all its stages; and, even when it receives Royal Assent, it might not come into force for a year or two (during which the consequent Statutory Instruments and new forms have to be prepared and circulated to solicitors).