The House of Commons will debate the final stages of the Leaseholder Reform Bill today (24 January).
The Bill aims to set future ground rents to zero and new, long residential leases will only be permitted to charge a peppercorn rent.
In Sheffield Heeley constituency more that 50% of homes are trapped in the feudal leasehold system since 2010.
This Bill is a welcome start – reform is long overdue, but it does not go far enough. Currently, hundreds and thousands of homeowners are caught in a leasehold scandal that sees them hit by spiralling hidden costs and trapped in unsellable homes.
The Bill aims to abolish ground rent for future leasehold properties but will do nothing for those already trapped. What is needed is wholesale reform and that’s why Labour have tabled amendments to extend the reforms to existing leaseholders.