Housing: Leasehold

Lord Young of Cookham Excerpts

Tuesday 5th January 2021 Lords Chamber

[Lord Greenhalgh (Con)]

I assure your Lordships that leasehold reform is coming. A lot has been announced and, subject to the vagaries of the Downing Street grid, more will be announced shortly.

[Lord Young of Cookham (Con)]

My Lords, is the noble Lord, Lord Truscott, not right to say that leasehold as a form of tenure is a relic from a feudal age that exists nowhere else in the world? Instead of trying to patch it up, should we not be actively replacing it with commonhold for new developments and much easier enfranchisement for existing ones?

[Lord Greenhalgh (Con)]

I thank my noble friend. There is no doubt that in this country we are unique in having leasehold. We need to focus on reform, which will take this forward to a position similar to that in Scotland or on the continent, where people are co-owners of their property.