The buy-to-let lender found that 64% of landlords think the government will fail to deliver its proposals, despite ministers pledging in March to ban the sale of new leasehold homes as part of plans to end what they described as a “feudal system”.

Only 36% of landlords said they believed the reforms would be achieved before the next election.

Under the current system, freeholders own the building while leaseholders purchase the right to occupy their property for a fixed term.

The government says it wants to move towards a commonhold structure, where homeowners jointly own and manage their buildings.

A white paper published in March outlined plans to ban the sale of new leasehold flats and reinvigorate commonhold ownership through a new legal framework.

Landbay surveyed landlords owning around 3,000 properties across England and Wales.

It found landlords in the north of England were the most optimistic, with 55% saying the reforms were unachievable, compared to 75% in Wales.

Those operating as individual landlords were slightly more confident (58% doubting achievability) than those using limited company structures (65%).

When asked what they disliked most about leasehold tenure, more than half (53%) cited high service charges as their biggest frustration.

Poor infrastructure and neglect (14%) and difficulty remortgaging (14%) were also common complaints, while 7% pointed to the cost of ground rent.

Only 11% said they had no issues with the leasehold system.

Landbay sales and distribution director Rob Stanton says: “The government’s ambition to abolish leasehold and transition to commonhold is a bold step towards modernising property ownership in the UK.

“But our research suggests there is a lot of scepticism out there among landlords, with nearly two-thirds doubting it can be achieved by the end of this parliament.

“While the intent to reform a system often seen as outdated is welcome, delivering such sweeping changes requires robust implementation.

“With the political demise of Angela Rayner, the abolishing of leasehold tenure is beginning to look less certain.

“Our research highlights the deep concerns over the leasehold system, with expensive service charges being landlords’ primary grievance, alongside issues like neglect and remortgaging challenges.

“The government’s push for commonhold is a step in the right direction, but the lack of confidence among landlords, particularly in Wales and among those using limited company structures, highlights the need for a clear, practical roadmap.

“Without robust policy execution, the transition risks stalling, leaving landlords and leaseholders in limbo.”