Unlocking London's Property Puzzle: Exploring Leasehold Reform

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In this episode, we're diving deep into the topic of leasehold reform with two industry experts: Katherine Simpson, a legal specialist from Edwin Coe, and Justin Bennett, a valuation expert from LBB Chartered Surveyors.
The conversation kicks off with a recap of recent developments in the House of Commons regarding leasehold reform. Katherine and Justin shed light on the surprises and notable changes emerging from the legislative process, including the abolition of leasehold houses with certain exceptions, and the implications of permissive leases.
As the discussion unfolds, they explore the intricacies of ground rent reform, highlighting proposed caps and the potential impact on property valuation. They delve into the complexities of marriage value and the need for a revised valuation basis to simplify the process and avoid controversy.
Beyond ground rent, Katherine and Justin dissect other aspects of the bill, such as service charge transparency, building safety regulations, and conveyancing reforms. They express concerns about unintended consequences, including the potential depletion of housing stock and the impact on high streets.
Looking ahead, they discuss the upcoming process in the House of Lords and the importance of addressing technical valuation issues that have garnered less attention in the media. Despite media focus on service charges, they emphasize the need for a balanced approach that considers all aspects of leasehold reform.
Join us as we navigate the complexities of leasehold reform and gain valuable insights from industry leaders. Whether you're a seasoned professional or a first-time investor, this episode offers invaluable knowledge for navigating the London property market."

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