The Chancellor of the Exchequer Rishi Sunak delivered the Autumn Budget for 2021 on 27 October 2021 and draft legislation was published on 4 November 2021 in the Finance Bill. The majority of the Budget announcement were focused on recovering the economy from COVID-19’s impact and preparing the UK marketplace to be competitive in a post Brexit world, with limited changes to the real estate sector.

Continue Reading Autumn Budget 2021: Real estate focused updates

The government has launched the Building Safety Bill, which sets out a new regulatory regime for high-rise residential and other in-scope buildings, based on Dame Judith Hackitt’s review, following the Grenfell tragedy. The Bill, which has had its first reading in the House of Commons, will, as currently drafted:

  • establish the Building Safety Regulator within

Further to our update on the Government’s residential leasehold reforms, the Leasehold Reform (Ground Rent) Bill was introduced into the House of Lords on 12 May 2021. The bill seeks to fulfil one of the proposals set out in the Law Commission’s enfranchisement report and follows on from the Government’s press release made earlier this year, to tackle the inconsistency and ambiguity of ground rents for future residential leaseholders.

Continue Reading Leasehold Reform (Ground Rent) Bill published

Earlier this year, the UK Government reconfirmed its intention to bring forward residential leasehold reforms following the Law Commission’s recommendations last year. The proposed changes are expected to benefit up to 4.5 million leaseholders.

The news will no doubt be welcomed by leasehold homeowners who have been campaigning for changes to what they perceive to be unfair ground rent laws. However, the impact on developers, house builders and landlords, is less clear, but it is likely to affect the legal structuring of both the ownership and the ongoing management of new residential developments.

In this article, we consider what the proposed reforms are, when they are expected to come into effect and some of the potential implications on developer landlords or investors.


Continue Reading Ground Rent Reform – what’s happening and when?