Anger as leasehold reform could be delayed by latest appeal
Original Article Summary
Freeholders have applied to appeal last month’s High Court decision rejecting their challenge to the Leasehold and Freehold Reform Act 2024, which could cause further delays. In the original challenge a group of landowners and charities argued that the legislation infringes on their human rights by causing losses without proper compensation. The act makes it […] The post Anger as leasehold reform could be delayed by latest appeal appeared first on PropertyWire.
PropMatch Curated Analysis
Freeholders have applied to appeal the High Court's rejection of their human rights challenge to the Leasehold and Freehold Reform Act 2024, potentially causing further delays to cheaper lease extensions and freehold purchases. Legal experts argue the government should implement the Act immediately rather than wait for likely unsuccessful appeals.
Investor Relevance
Critical for leasehold property investors - delays mean continued high extension costs, diminishing property values, and restricted sale ability for sub-80 year leases. Every day of delay increases costs and reduces investment returns, while freeholders benefit from maintaining the existing premium structure.
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