Recently, the House of Lords have passed the Leasehold Reform Bill, which means there will be significant changes coming up.
Leasehold tenures originate from over 100 years ago. However, after a period of time, things have changes and this reform bill is a sign of improvement for those who hold a leasehold property.
The new bill includes when the leaseholder can buy the freehold, how much it will cost to extend a lease and also how developers of new houses will be affected too.