Leasehold Reform, Housing and Urban Development Act

The Leasehold Reform, Housing and Urban Development Act is UK legislation that gives leaseholders the right to buy the freehold or extend their lease on their property. It aims to empower leaseholders, reducing costly ground rent and ground rent clauses, and promoting fairer property ownership. The Act sets out procedures, eligibility criteria, and valuation methods to ensure leaseholders can access fair prices when acquiring their freehold or extending their leases, supporting their long-term security and control over their homes.