Posted on 25th June, 2025

Leasehold Reform Act 2024: What’s Live Now?

If you’re a leaseholder, you’ve likely heard about the Leasehold and Freehold Reform Act 2024—a major piece of legislation intended to make the leasehold system fairer and more transparent for homeowners in England and Wales.

But what’s actually changed right now? And how does it affect your plans to extend your lease?

Here’s a quick summary of where things stand—and how our experienced team can help.

What Is the Leasehold and Freehold Reform Act 2024?

The Act was passed in May 2024 as part of the government’s pledge to reform the leasehold system. It aims to give leaseholders more control over their homes and reduce unnecessary costs. While the full package of reforms is being introduced in stages, some key changes are already in force—and could affect your ability to extend your lease sooner than expected.

What’s in Force Now?

As of June 2025, the following key reform has already taken effect:

You no longer need to wait two years to extend your lease

Previously, leaseholders had to wait two years after purchase before they could begin the statutory lease extension process. This is no longer the case. You can now apply as soon as you own the property and it is registered in your name at the Land Registry —which is great news for those looking to secure the value of their home sooner.

What’s Still to Come?

Some of the headline reforms—including:

• Increasing the standard lease extension term from 90 to 990 years
• Abolishing marriage value (a cost that significantly increases lease extension premiums when leases fall below 80 years)
• Capping the ground rent considered in lease extension calculations
• Removal of freeholders recoverable costs

…have not yet come into force. There is currently no official timetable confirmed for implementation. Some proposals are potentially facing delays due to the need for further consultations and secondary legislation and also due to legal challenges to the legislation by some freeholders.

How We Can Help

At Julian Wilkins Chartered Surveyors, we’ve been helping leaseholders for nearly 20 years obtain the best possible lease extension terms. Whether you’re newly moved in or have owned your property for years, we can:

• Provide a full lease extension valuation, compliant with statutory requirements
• Negotiate with your freeholder—to get you the best possible price for your lease extension
• Offer clear, straightforward advice on the lease extension process

We’re a small, friendly, and highly experienced team, and we pride ourselves on a personal service that puts you at ease—whether this is your first lease extension or one of many.

We can assist with your lease extension throughout Southern England including London. We are familiar with dealing with many of the large freeholder owning companies together with Local Authority freeholders including the various London Boroughs.

We can assist with lease extensions throughout the south of England and London from offices in London, West Sussex, Hampshire and Surrey.   We regularly deal with the freehold owning companies and Local Authority freeholders including the various London Boroughs.

Ready to Get Started?

If you’re thinking about extending your lease —or wondering how the new rules apply to your situation—get in touch for an initial chat. We’ll talk through your options and let you know how we can support you every step of the way. In the first instance please email us at info@jwsurveyors.co.uk or call us on either 01903 872211 or 020 8912 6399.