The Leasehold & Freehold Reform Act 2024 will mean that lease extensions will last for 990 years instead of the current 90 year extension period.

The Marriage Value will also be abolished, once the secondary legislation is implemented.

Some of our leaseholders will have a lease with a remaining term of less than 80 years in 9 months time. Many are trying to hold out until the secondary legislation is approved, to receive more favourable terms but the new terms have not been confirmed.

Leaseholders want to know if the council will consider allowing them to vary from a 90 year lease to a 990 year lease for a variation fee, if they extend their lease now and the legislation is implemented some time after.

• Has any other organisation been approached about this?
• Do you have any plans to allow leaseholders to extend their leases to 990 years after the Act is enforced, if they have recently paid for a 90 lease extension and missed out on the new terms?
• If so, how long after the 90 year lease extension has taken place will you allow leaseholders to vary their lease extension length to 990 years?
• How much do you plan to charge for the variation?
• Have you got any other plans or been presented with any other queries regarding the future Act?

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