Freeholders have applied to appeal last month\u2019s High Court decision rejecting their challenge to the Leasehold and Freehold Reform Act 2024, which could cause further delays.<\/p>\n
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.<\/p>\n
The act makes it cheaper for those with leases below 80 years, or with a high ground rent, to extend their leases or purchase their freeholds.<\/p>\n
Linz Darlington of solicitor firm Homehold, said: \u201cThe sense of relief that the High Court ruled in favour of common sense is now being drowned out by a fresh wave of exasperation.<\/p>\n
\u201cWe are now 18 months since this law hit the statute books, and leaseholders with leases below 80 years or a high ground rent are still no closer to being able to secure a lease extension that is cheaper or easier.<\/p>\n
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\u201cEvery single day of delay is a day that many can\u2019t sell their properties, the value of their homes diminishes and the cost of extending a lease or buying their freehold increases.\u201d<\/p>\n
She added: \u201cThe High Court ruling was well reasoned and arguably leaves limited opportunity for a successful appeal \u2013 but even the delay caused by appeals will be a win for the freeholders.<\/p>\n
\u201cIn the meantime, they will benefit from lease extension and freehold purchase premiums paid under the existing legislation.\u201d<\/p>\n
\u201cThe Labour government must now find the gumption to accept the High Court\u2019s clear ruling and crack on with implementing the Act. They cannot stand by and allow the freeholders\u2019 endless, expensive appeals\u2014which are likely to fail\u2014to hold the entire system to ransom.\u201d<\/p>\n
We are demanding they stop waiting for the outcome of appeal after appeal and immediately launch the valuation consultation and lay the necessary secondary legislation. Delaying implementation only serves the freeholders, not the people this Act was designed to protect.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Freeholders have applied to appeal last month\u2019s 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 […]<\/p>\n","protected":false},"author":1,"featured_media":5526,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n