Many SE23 residents, myself included, call blocks of flats home. Those lucky enough to “own” them will almost certainly “own” the flats under the leasehold system. Anyone who’s challenged leasehold charges knows the basis on which I surround certain words with quotation marks!
Some good news today though: the right to extend to 999 years looks to become enshrined in law, and the accompanying “marriage value” cost appears to be reformed - if not abolished entirely. This is the major contributing cost to lease extensions. Ground rent will also be set to zero at the point of lease extension, and any new leases. Again, welcome news.
Read more here on the Beeb: