The Government has launched a consultation on the valuation rates that will be used to calculate the cost of extending a lease or buying a freehold under the Leasehold and Freehold Reform Act 2024. The proposals aim to create a more consistent and transparent approach, helping to reduce uncertainty, disputes and unnecessary costs for leaseholders.
āAt Fortem Property, we welcome measures that bring greater clarity and consistency to the leasehold system. While this is a technical consultation, the outcome could have a significant impact on the affordability and accessibility of lease extensions and enfranchisement for many leaseholdersā. Darren (Founder of Fortem).
As leasehold reform continues to evolve, we'll be keeping a close eye on the proposals and what they mean for building owners, managing agents and residents alike.
Read more: gov.uk/government/consultations/leasehold-enfranchisement-valuation-rates