Midlands legal firm welcomes landmark leasehold reform plans

The reforms, announced in a government white paper on March 3, aim to replace the current leasehold system with commonhold ownership, giving flat owners greater control over their properties and associated costs. The changes will see homeowners own a share of and have direct control over the buildings they live in, bringing England and Wales more in line with property ownership practices seen globally.

Daniel Stones, Director at Davisons Law, said: "The proposed reforms represent a positive shift towards fairer property ownership in England and Wales. Many of our clients have faced challenges with escalating service charges and a lack of control over their leasehold properties. The move towards commonhold will empower homeowners and provide them with greater transparency and autonomy."

As one of the UK's prominent legal practices, with particular expertise in property law, Davisons Law is well-positioned to support clients through this transition. The firm, which recently announced its largest recruitment drive to date with over 53 positions available across its nationwide network, is expanding its conveyancing teams to meet growing demand.

"Our team of property law specialists is already preparing for these important changes," added Mr Stones. 

"We understand that many existing leaseholders will have questions about how these reforms might affect them, and we're committed to providing clear guidance and support throughout this transitional period. Whether clients are considering purchasing a flat under the new commonhold system or exploring options to convert from leasehold to commonhold, our experts are ready to help navigate these changes."

The Government plans to publish a draft Leasehold and Commonhold Reform Bill later this year, which will outline the details of how the new system will work. Davisons Law will continue to monitor developments closely and provide updates to clients as more information becomes available.