Mayor of London calls for leasehold reform at launch of new guide for owners

The Mayor of London has launched a new guide to help leaseholders and called on Ministers to speed up an overhaul of the system of leasehold for home buyers in the capital. An estimated third of London’s homes, and over 90% of new builds are owned on a leasehold basis, with many leaseholders finding it a complex and confusing form of home ownership. The Mayor has called for wholesale reform of leasehold, including a long term shift toward alternative tenures such as commonhold. In the meanwhile, he is working to ensure London’s leaseholders have access to high quality information on their rights and obligations.