BPF response to the HCLG Select Committee's pre-legislative scrutiny of the Draft Commonhold and Leasehold Reform Bill

In our response to the Housing, Communities and Local Government Select Committee's pre-legislative scrutiny of the Draft Commonhold and Leasehold Reform Bill, we note that, while we are not opposed to the Government’s renewed focus on commonhold and have long championed sensible reforms to leasehold, we have a number of concerns on the draft Bill's proposals.

These include the impacts on the UK’s reputation as a place for investment through unnecessary interference with existing investments into ground rents; risks of freeholder insolvency and worsening building safety; the failure to address immediate leaseholder concerns through regulation of managing agents; and the substantial detail still to be developed to support a commonhold tenure.