Leasehold Reform

Lord Young of Cookham Excerpts

Tuesday 6th September 2022 Lords Chamber

[Baroness Scott of Bybrook (Con)]

I assure the noble Lord that I will speak to whoever is the new Minister, or to an old Minister coming back. While I cannot set out precise details of the future Bill at this stage, the Government have been very clear about our commitment to addressing the historic imbalance in the leasehold system. Further legislation will follow later in this Parliament. This is a long-term reform programme; it is complex and it is important that we get the detail right.

[Lord Young of Cookham (Con)]

My Lords, my noble friend will know that the leasehold reform Bill was originally planned for this Session and has now been postponed to the next one. In the meantime, in addition to the problems mentioned by the noble Lord, Lord Kennedy, there is considerable uncertainty in the leasehold market. Leaseholders when they buy a flat do not know what additional rights they may acquire under the Bill, and this affects the value. To minimise the uncertainty in the meantime, can my noble friend do what she can to ensure that the Bill is introduced very early in the next Session, preferably on the first day of the Queen’s Speech debate?

[Baroness Scott of Bybrook (Con)]

I totally understand the issue that my noble friend raises. As I have said to the noble Lord opposite, I will do my best to ensure that all the issues that noble Lords bring up today are communicated to the department and to the new Ministers. My noble friend understands that I cannot give the commitment that he requires but, again, I assure him that the Government are still very strongly committed to taking forward a comprehensive long-term programme of reform in the house ownership sector. However, as I have said before, it is complex and we need to get the detail right.