The Leasehold and Freehold Reform Bill 2023-24, introduced to the House of Commons on 27 November 2023, aims to make long-term changes to improve homeownership for leaseholders and freeholders in England and Wales.

The bill includes provisions to make it cheaper and easier for leaseholders to extend their lease and buy the freehold, increase the standard lease extension term to 990 years, change qualifying criteria, improve transparency of service charges, and introduce a new right for leaseholders to request information about service charges and building management.

The bill also addresses estate charges, rentcharges, and the rights of freehold homeowners.

Critics argue that the bill doesn’t go far enough and should have included a ban on new leasehold houses and a more comprehensive reform towards commonhold tenure.