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Housing Today
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Cost of leasehold reforms rises to £4bn after government updates impact assessment
Increase down to financial model updates over ten-year appraisal period
The government has revised up the total cost of leasehold legislation reforms from £3.5bn to £4bn following technical corrections.
The increase in the estimated cost of the Leasehold and Freehold Reform Act 2024 is mainly due to adjustments in financial modelling to make estimates more accurate, which were published this week by the Ministry of Housing, Communities and Local Government (MHCLG) in an addendum to the Act’s impact assessment.
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