Pending Leasehold Reform legislation
I am trying to gauge what the Government's intentions are and what the likely outcomes might be vis-a-vis leaseholders of flats extending their leases under the much publicised forthcoming leasehold reform legislation.
This is of course supposed to be something of a revolution regarding leasehold properties. The Law Commission has now closed its extended consultation period. It has stated that it aims to simplify and standardise the extension procedure for both houses and flats as well as reducing the inherent costs to the leaseholder, but does anyone interpret the overall intention and outcome to result in a reduction of the fee/compensation payable to the freeholder for such an extension?
I am also trying to gauge when this is likely to pass into law. Has anyone got any thoughts, observations, interpretations, inside knowledge etc - all without prejudice of course.
Thanks in advance.
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