King Charles' Leasehold and Freehold Bill empowers England and Wales leaseholders, supported by Bridging Ventures Group.
The bill simplifies extending leases, managing buildings, and buying freeholds. Key points include affordable freehold purchases, extending lease terms to 990 years with zero ground rents, and restricting new leasehold houses.
Increasing the non-residential limit to 50% aids more freehold purchases. Experts are optimistic about its impact on the bridging market, anticipating growth.
BVG commends the bill for empowering property owners and addressing ground rent issues. Improved leasehold management through technology aligns with BVG's efficient property financing ethos.
While transparency in lease extension costs is expected, concerns remain for leases under 80 years. Nonetheless, the bill enhances leasehold property appeal to buyers and investors.
The Leasehold and Freehold Bill transforms the property market, supported by Bridging Ventures Group, advancing seamless property investments and ownership.
