A DIRECTOR of a Lichfield legal firm say plans to ban new leasehold flats are “a significant step forward for homeowners”.
The reforms have been drawn up by the Government and would see the current system replaced with commonhold ownership.
The move is designed to give flat owners greter controls over their properties and associated costs.
Daniel Stones, director at Davisons Law, said:
“The proposed reforms represent a positive shift towards fairer property ownership in England and Wales.
“Many of our clients have faced challenges with escalating service charges and a lack of control over their leasehold properties.
“The move towards commonhold will empower homeowners and provide them with greater transparency and autonomy.”
The Government plans to publish a draft Leasehold and Commonhold Reform Bill later this year, which will outline the details of how the new system will work.