Independent report

Reinvigorating commonhold: the alternative to leasehold ownership

Making commonhold a preferred alternative to leasehold ownership. We published our report on commonhold (“Reinvigorating commonhold: the alternative to leasehold ownership”) on 21 July 2020.

• From: Law Commission
• Published: 21 July 2020

Applies to England and Wales

Documents

Reinvigorating commonhold: the alternative to leasehold ownership

Ref: ISBN 978-1-5286-2060-4 , HC 586

PDF, 5.78 MB, 640 pages

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Details

We published our final report on 21 July 2020. In our report, we make numerous recommendations that seek to make commonhold not only a workable, but a preferred form of homeownership to residential leasehold.

Our recommendations include measures designed to:

• make it easier for leaseholders to convert to commonhold and gain greater control over their properties
• enable commonhold to be used for larger, mixed-use developments which accommodate not only residential properties but also shops, restaurants and leisure facilities
• allow shared ownership leases to be included within commonhold
• give owners a greater say in how the costs of running their commonhold are met and ensure they have sufficient funds for future repairs and emergency works
• make it easier to take action against those who fail to pay their share of the commonhold’s costs
• ensure commonholds are well maintained and insured, with new powers to replace directors who are not complying with the commonhold’s rules
• provide owners with flexibility to change the commonhold’s rules while improving the protections available to those affected by the change
• improve mortgage lenders’ confidence in commonhold to increase the choice of financing available for home buyers.

Find out more on the Law Commission website.

Published 21 July 2020