Six days after my detailed submissions to @DLUHC, they have now acknowledged lease extensions mean loss of #leaseholderprotections. BTW there is NO statutory provision for a landlord to be COMPELLED to "carry over" those protections into an extended lease. #BuildingSafetyActFail

Fascinating FTB data.

At last some good news! The government has just announced that it will legislate so that lease extensions are made subject to the same leaseholder protections which apply to a surrendered qualifying lease granted prior to 14 February 2022.

FAO housing associations & public sector landlords. As per updated government guidance, lease extensions you grant should ‘reflect a qualifying leaseholder’s current protections” under the #BuildingSafetyAct. That would be the right and proper thing to do. rb.gy/otg7w

Urgent. Starting University or Higher Education this September? English students starting this year will be on a brand new student loan system and need to apply by THIS FRIDAY to get their living costs loans to be guaranteed to paid on time (it may still be paid on time after

Renters Reform Bill outlawing 'no fault' evictions to be published today #ukhousing dlvr.it/Sp86rn

Renters Reform Bill published - largely seen as anti landlord and agents - wi it accelerate private landlord exits from the market? lettingagenttoday.co.uk/breaking-news/…

One of my worries about the Renters Reform Bill is the reliance on local authority enforcement, given the sheer size of the PRS in areas with very stretched local authorities which have already been reduced to shoestring budgets insidehousing.co.uk/news/renters-r…

Newbuild home fury as 36 properties worth up to £850,995 including some which had already been sold are to be destroyed and rebuilt by developer in £31m move due to problem with foundations  via dailym.ai/ios mol.im/a/12177291

Average mortgage rates rise AGAIN towards 6% for a two-year fixed deal: More pain for homeowners as Britain braces for the 'big reset' via dailym.ai/ios mol.im/a/12185471

FT (£) “In New York, buildings are selling for less than the value of the land they sit on,” said Will Silverman of Eastdil Secured.” In London valuers have yet to face the fact that sort-leased low-grade offices are worth less than the land they sit on. ft.com/content/658d93…

Important Changes in social rent calculation flip from rpi plus 0.5% to cpi plus 1% gov.uk/government/pub…

DLUHC introduce new shared ownership rent reforms - Property Industry Eye propertyindustryeye.com/dluhc-introduc…

1/19 Leasehold and Freehold Reform Bill (all 140 pages) published: publications.parliament.uk/pa/bills/cbill… Explanatory notes here: publications.parliament.uk/pa/bills/cbill… From a quick look, it is broadly as advertised in the press statements. Below some first reactions based on a skim reading.

2/19 The bulk of the bill deals with changes to the calculation of premium payable for lease extensions / collectively buying the freehold. As expected, this enacts the Law Commission July 2020 "Scheme 1", 990 year extensions, no marriage / hope value and fixing key variables.

3/19 It also enacts the right for long leases with 150 years+ left to reduce the ground rent to a peppercorn on payment of a premium. The ground rent taken into account for premium calculation is capped at 0.1% of the freehold value, another 2020 Law Commission recommendation

16/19 I cannot see the ban on new leasehold houses in the bill, but it may be hidden somewhere in the detail. Also, we need to see the detail of the statutory instruments to judge how good the law is. As usual this is principles only legislation with the detail kept back.

'A muted win' – leasehold reform bill passes... estateagenttoday.co.uk/breaking-news/…

Hush ….. a sneak peek at our plans for todays NLG 2024 National Conference It’s so early…. Great help from the team at Cast Consultants