BSA response to Law Commission consultation on reinvigorating commonhold.
We firmly believe that government should continue to prioritise and focus on addressing onerous lease terms suffered by some leaseholders. It is important that commonhold is not seen as a panacea for the issues with leasehold but instead be another option alongside a better functioning leasehold market.
We continue to believe that commonhold has some advantages over leasehold such as; no time-limited ownership, removal of lease forfeiture and no onerous leasehold conditions. These current proposals still leave an element of doubt and uncertainty for our members, more engagement and flexibility in the proposals will be needed to find a solution that is fair on the property owner and the lender.
We appreciate a great deal of effort and resource has been placed in this work, however without the support of developers in adding to commonhold supply we feel this good work could be a wasted effort. See here for full response.