Leasehold permission "start of journey"

23 June 2021

Commenting on the decision by Aviva and Persimmon to allow leaseholders to buy their freehold, Jonathan Frankel, leasehold enfranchisement specialist from Cavendish Legal Group, says: “This is a welcome announcement, but much like the announcement at the start of the year by the Government on changes to leasehold rules, it is lacking in detail.

“The decision by Aviva and Persimmon should ensure other housebuilders follow suit, but the question is how long will homeowners have to wait before they see these words turned into action.

“As specialists in the area of leasehold enfranchisement, we would like to see just how, and particularly when, these two huge players will change their procedures to allow leaseholders to buy the freehold – and crucially, at what discount?

“Leaseholders feeling trapped by escalating ground rents and unsellable homes, deserve clarity and a timeframe for this, along with a clear commitment from the Government on when they will be implementing the changes announced in January.

“This may be the start of a journey to a fairer system for leaseholders, but I suspect there is still a long road ahead and it’s vital for leaseholders to get the right advice now.”