Agents tell Burnham to accelerate leasehold reform
Summary
Propertymark is urging the Burnham government to speed up leasehold reform and provide immediate protections for existing leaseholders, arguing that a future move to commonhold will not address current market problems. Its report says high service charges, slow access to leasehold information and unresolved building safety defects are continuing to hinder sales, mortgageability and consumer confidence.
Why it matters
Residential surveyors regularly encounter leasehold transactions affected by service charge levels, delayed information packs and building safety issues. These factors can affect valuation, saleability, lender appetite and transaction timescales, making the reform agenda directly relevant to day-to-day practice.
Key points
- Propertymark says long-standing leasehold problems remain unresolved for many homeowners.
- Rising service charges are cited as a major barrier to leasehold sales and mortgageability.
- Leasehold information can take more than 15 days, and sometimes months, to obtain.
- Building safety remediation in England could take 17 to 33 years, according to Propertymark's analysis.
- The group is calling for faster government action to support existing leaseholders.
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