A group of conveyancing bodies has submitted a list of initiatives to the Housing Minister for what they describe as a “21st century leasehold process”.
The group has produced an eight point plan designed to reduce unreasonable costs, increase consumer certainty and reduce the potential for leasehold abuse. For example, managing agents could be made to provide management information within a certain time and for a set fee. One other suggestion is that when a leasehold property is put on the market, upfront information should be provided such as the unexpired lease term, the amount of ground rent and service charges.
The Law Society has said that it has an ongoing programme of work to provide recommendations where the law around leasehold property can be improved. However, a spokesperson has said that “problems as complex as those arising in leasehold law cannot be solved with simple answers….and some raise real questions of unintended consequences and practical enforcement”.
It also has to be said that with Brexit dominating legislation in parliament, it seems highly unlikely that any proposals will become law anytime soon.