Housing minister Matthew Pennycook has confirmed specific changes under the Leasehold and Freehold Reform Act.

In a statement he wrote: “I have today signed regulations to remove the two-year ownership rule for leaseholders of flats to extend their lease, and leaseholders of houses to extend their lease or buy their freehold.”

Action against leaseholds was mentioned in the new government’s first King’s Speech.

Back in September the government pledged to “act quickly” to bring into force the Leasehold and Freehold Reform Act 2024, which was rushed through in the final days of the previous parliament

This new legislation specified that leaseholders would no longer be required to have owned a property for two years before they can extend their lease or buy the freehold. The new rules would also ban the sale of new leasehold houses as well as hidden insurance commissions.