The days of the previous government, which culminated in the ‘wash-up’ of Bills including the Leasehold and Freehold Reform Act 2024 (LAFRA 2024), sometimes feels like a distant era. But for the many leaseholders for whom that milestone was meant to herald long-awaited change, the wait continues.
LAFRA 2024 promised fairness, simplicity and reduced costs in what was portrayed as an overly complex and archaic system.
But a year on, the reality is far from transformative. Despite headline-grabbing proposals—from abolishing the payment of marriage value to introducing caps on ground rent and extending leases to 990 years—too few of the Act’s key provisions have been implemented. The market remains stalled, practitioners are in limbo, and leaseholders are left grappling with legal uncertainty, valuation dilemmas and a fundamental question: should they act now or wait?
A ‘dog’s dinner’?
LAFRA 2024 was passed in the closing days of the last Parliament. Many professionals working in leasehold enfranchisement warned at the time that the Bill had been rushed.
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