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Flagship First Homes scheme launches

04 June 2021

Housing Minister, Robert Jenrick MP, announced today, 4 June 2021, a new First Homes scheme of discounted houses for local people and key workers in England with the first properties going onto the market in Bolsover, East Midlands, as part of the first phase of an early delivery project. Read More...

Commonhold Council launched

Friday 14 May 2021

An advisory panel of leasehold and industry groups has been launched to inform the UK Government on the future of commonhold homeownership.

The commonhold model enables the freehold ownership of flats with the aim of giving people greater control over the costs of homeownership.

The Housing Secretary Robert Jenrick has formed the Council following recommendations from the Law Commission to simplify the commonhold system and expand its use for both new homes and existing leasehold buildings. It will pave the way for homeowners in England to access the benefits that come with greater control over their homes.

This builds on the UK Government’s announcement in January on leasehold reform and wholescale changes to property law. The reforms include new rights to extend leases, caps on ground rents, abolishing ‘marriage value’, an online leasehold calculator, and reducing ground rents to zero for all new retirement properties.

At the Queen’s Speech, a Leasehold Reform (Ground Rent) Bill was announced. The Bill’s First reading took place on 12 May, starting the Bill’s journey through Parliament. It aims to help tackle the inconsistency and ambiguity of ground rents for future leaseholders.

Commonhold properties

Commonhold gives homeowners more autonomy over the decisions that are made. They are in control of their building in what is known as the building’s ‘commonhold association'.

The commonhold model is used widely around the world and provides a structure for homeowners to collectively own the building their flat is in, with a greater say on their building’s management, shared facilities, and related costs.

Quote mark

We want to give homeowners across the country the autonomy they deserve. The widespread introduction of commonhold builds on our work to provide more security for millions of existing leaseholders across England, putting an end to rip-off charges and creating a fairer system.

Robert Jenrick MP, Housing Secretary

PROPERTYMARK RESOURCES

An FAQ document for members on leasehold reform is available to download from the member area.