Built environment industry responses to the Spring Statement 2025
Following the publication of the Spring Statement on 26 March 2025, several built environment industry bodies have released their responses.
The term 'leasehold enfranchisement' includes rights to:
extend a residential lease, and
acquire the freehold
The purpose of those rights is to enable tenants to continue occupation of their residential property at a fair price and on fair terms. It also allows leaseholders to maintain capital value and the ability to mortgage.
Mortgage lenders look unfavourably on leases with less than 70 years left to run.
The exercise of any of the rights below involves detailed procedures. Strict deadlines apply for the service of notices and counter-notices and subsequent steps in the process. Even if a right is admitted, a claim may lapse if time limits are overlooked. Although often referred to generically as 'leasehold enfranchisement', the qualifying criteria, forms of notice and time limits for each right are different, and it is essential before initiating any of the procedures to ensure that each successive step is mapped out and understood.
The valuation process for freehold acquisitions and lease extensions is also complex. Again, the detailed rules for each right are different and specialist advice should be obtained before launching
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