The market’s response will be a function of the detailed proposals, which are not yet clear. For the time being, the following elements stand out:
The proposal to increase the non-residential threshold from 25% to 50%.
The removal of the two-year ownership requirement before leaseholders can benefit from the leasehold reform acts.
No reference Marriage value.
A proposal to consult on capping existing ground rents.
Renters reform Bill
The Bill aims to “improve renting for the long term” and the proposals are set out here.
The market’s response will be a function of the detailed proposals, which are not yet clear. For the time being, the following elements stand out:
Retention of S21 until a new court process is in place.
“Protect the student market” by introducing a new ground for possession to guarantee possession each year for a new group of students.
Scrapping of proposals to require landlords to meet EPC C from 2025.
If you would like to discuss these issues, or the wider legislative proposals, or the implications from those proposals, please contact James Hyman, head of residential agency or Victoria Martin, residential valuations.
The information contained here has been obtained from sources generally regarded to be reliable. However, no representation is made, or warranty given, in respect of the accuracy of this information. Cluttons LLP does not accept any liability in negligence or otherwise for any loss or damage suffered by any party resulting from reliance on this publication.
