When will the Labour government reform the leasehold system?

The two-year ownership rule to extend a lease or buy a freehold has been scrapped. But homeowners are still waiting for the controversial leasehold system to be fully reformed

man holding house keys
(Image credit: Getty Images/Nuttawan Jayawan)

Homeowners in leasehold properties no longer have to wait two years to extend their lease or apply to buy their freehold in the latest reform of the controversial tenure type.

It has been more than six months since the Leasehold and Freehold Reform Act was rushed through Parliament in May before the general election and while the new Labour government promised to finish off and fill gaps left in leasehold reforms in the King’s Speech, many changes are taking longer than expected.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.