What will the General Election mean for Leasehold Reform?

With Rishi Sunak announcing a General Election for 4th July, one of the big questions is what it will mean for the various pieces of legislation currently working their way through Parliament.

In order to facilitate the usual campaigning period, Parliament is due to be dissolved next week. Given that the Leasehold and Freehold Reform Bill is currently with the House of Lords for its Report Stage, such a swift dissolution would most likely prevent it from entering into the statute books during this Parliament.

An incoming Government could certainly choose to pick up useful bits of legislation left hanging by the outgoing administration, but this is by no means certain. Opinion polling has consistently indicated that we will see a change of #Government come 5th July and, having discussed the matter with those in the know, I have been told that a #Labour government will have far more pressing concerns that will take priority over and above leasehold reform. To quote one particular contact:

“Leasehold reform is not high on Labour’s list of priorities.”

Since the Bill was announced, I have maintained that I do not believe that it will enter into law either:

a) Quickly, or b) In the same form as it has been proposed – and the General Election only adds weight to that argument.

As always, my message is clear:

Reform is still a long way off. If you or your clients have a lease with less than 90 years remaining, I would strongly recommend looking to extend it sooner rather than later, as delaying in the hope of future reform could prove to be an extremely costly mistake.