Recent updates to leasehold reform signal major changes ahead that could benefit leaseholders and shared owners, although many measures are not yet fully in force.
The Leasehold and Freehold Reform Act 2024 aims to make it cheaper and easier to extend leases, including introducing 990‑year extensions at a peppercorn (nil) ground rent and removing “marriage value” from lease extensions calculations.
In the meantime, if you are a Hightown leaseholder or shared owner, you can still currently extend your lease – email us at homeownership@hightownha.org.uk to find out more.
What’s coming next?
Importantly for shared owners, the reforms are expected to give you a new legal right to extend your lease, even if you have not staircased to 100%, alongside simpler processes and reduced costs. However, details on pricing and implementation are still being finalised, so timelines remain uncertain.
Looking ahead, the draft Commonhold and Leasehold Reform Bill 2026 proposes even wider changes. These include a shift towards commonhold ownership for new flats - where residents collectively own and manage their building; this is only applicable to new leasehold flats. The government is also considering introducing a cap on ground rents and ensuring that there is greater transparency around service charges.
