Property industry news
Letting agents in focus as Renters' Rights Bill advances
The Bill entered the House of Lords Committee Stage on 22 April 2025, marking a pivotal phase in its journey through Parliament. Propertymark welcomes the detailed scrutiny at this stage as peers examine the Bill line by line. Debate in the Lords has focused on striking the right balance between strengthening tenants’ rights and maintaining a functional rental market, with some peers voicing our members’ concern that the current measures could have unintended consequences.
Public Accounts Committee calls for urgent improvements to cladding remediation programme
Eight years after the Grenfell Tower tragedy, which claimed 72 lives, tens of thousands of people remain in unsafe homes, with remediation efforts slow and riddled with uncertainty, according to the new report from the House of Commons Public Accounts Committee.
Leasehold insurance reforms must tackle root causes
The Ministry of Housing, Communities and Local Government (MCLHG) and the Welsh Government have proposed new regulations overhauling how insurance costs are charged to leaseholders in multi-occupancy buildings, to increase transparency and prevent leaseholders from being overcharged through commissions and hidden fees. While Propertymark supports efforts to ensure fairness for leaseholders, we have warned Ministers that these reforms alone will not bring down insurance premiums; a focus on building safety and insurer confidence is needed to achieve real change.
Why commonhold isn't that common and how that's about to change
The UK Government has committed to banning the sale of new flats on a leasehold basis and reforming the legal framework for commonhold, so it becomes the default and preferred tenure. It will also become easier for existing leaseholders to convert to commonhold, although the complexities of this may take longer to work out. Few agents in England and Wales have experience with commonhold, as less than 20 developments currently exist, so Propertymark has broken down some key parts of the proposals to help members understand the change.
Leasehold will be abolished for flats under new legislation
The UK Government has announced its next steps in a significant programme of reform to property ownership, aiming to abolish the traditional leasehold system and promote commonhold as the standard tenure for flats in England and Wales.
Leasehold Right to Manage reforms take effect on 3 March 2025
The Leasehold and Freehold Reform Act 2024 (Commencement No. 3) Regulations 2025 mark the latest significant step towards strengthening the rights of leaseholders and providing them with greater powers and protections. These changes will directly impact estate and letting agents across the UK, as they affect how leasehold properties are managed, bought, and sold.
ESW1 warnings: what agents need to know about invalid fire safety forms
Recent developments concerning the company Tri Fire and one of its assessors have raised significant concerns over the validity of the EWS1 forms they have issued. Major banks are refusing to lend on properties assessed by Tri Fire, potentially causing delays or halts in property sales and remortgages.
Key changes on leasehold reform effective from 31 January 2025
The Leasehold and Freehold Reform Act 2024 (Commencement No. 2 and Transitional Provision) Regulations 2025 introduce significant changes to leasehold property rights in England and Wales. The regulations enact Section 27 of the Act, removing the two-year qualifying period that leaseholders previously needed to meet before extending their lease or purchasing their freehold. Importantly, this change applies retrospectively, meaning it is not limited to new leases signed after the commencement date but also benefits existing leaseholders.
Permitted Insurance Fees will mean significant changes for leasehold agents
The Ministry of Housing, Communities and Local Government (MHCLG) and the Welsh Government seek agents’ views on proposals to limit the building insurance charges that freeholders, property managing agents and landlords can ask leaseholders to pay. There are long-standing concerns about unjustified and unfair fees which leaseholders are unable to properly scrutinise and challenge.
Propertymark influences leading UK Government taskforce
The Older People’s Housing Taskforce has published a final report which includes many recommendations made by Propertymark. We met with the taskforce chair, Professor Julienne Meyer, and responded to the consultation, with proposals to enhance the choice, quality and security of housing for senior citizens.
UK Government edict says all high-rise homes should be made safe by 2030
The Remediation Acceleration Plan is the first scheme to set a deadline for completing work on all buildings in England with unsafe cladding. So far, only 30% of known at-risk buildings have been fully remediated, and it’s estimated that as many as 7,000 are still to be identified. Building Safety Minister, Alex Norris, MP, stated three aims; to fix buildings faster, identify all those with unsafe cladding, and support vulnerable residents.
Leasehold reforms see further consultations and regulating managing agents
Housing Minister Matthew Pennycook MP candidly admitted that the current Act contains flaws requiring further legislative action and has unveiled a series of consultations and measures. He has also committed to strengthening the regulation of managing agents, including as a minimum, mandatory professional qualifications.
Propertymark supports members as leasehold regulations come into force
From 31 October 2024, Part 5 of the Building Safety Act 2022 will be updated to clarify landlords’ responsibilities for remediation, to make remediation orders more effective, and to provide more detail about who can be required to contribute to the cost of remediation works. The UK Government is committed to enacting the legislation and has indicated that work to formulate further regulations is in progress.
