The promised leasehold reforms – watered down and several years late but better than nothing!

A good summary below (from @FreeLeeValuers) regarding the changes proposed in the bill which is being read in house of commons today. The bill includes some changes effecting Right to Manage to supposedly to make it easier/cheaper – it is not clear yet what all of those are, as well as greater accountability of freeholders to leaseholders.

This doesn’t do nearly enough on leasehold reform (like abolishing leasehold!) but all lease extensions will be 998 years if the bill passes (unlike the 90 year extensions offered by London and Quadrant currently to residents of Warwick Building, Chelsea Bridge Wharf!).