Major change will provide homeowners a stake in the ownership of their buildings and will hand them more power, control and security over their homes.

• Change will make sure flat owners are not second-class homeowners which the unfair feudal leasehold system is given an end, building on the Prepare for Change aspiration to drive up living requirements
  
  Homeowners will have a stake in the ownership of their structures from the first day, not need to pay ground lease, and will acquire control over how their structures are run under significant plans to bring the feudal leasehold system to an end.
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  Plans to reinvigorate commonhold and make it the default tenure have been revealed today. Unlike leasehold ownership where third-party property owners own structures and make decisions on behalf of property owners, these modifications will empower effort property owners to have an ownership stake in their buildings from the beginning and will provide greater control over how their home is handled and the bills they pay.
  
  Supporting shipment of a manifesto commitment - these reforms mark the start of the end for the feudal leasehold system. The changes match the Prepare for Change turning point to construct 1.5 million homes, combatting the severe and established housing crisis by making homeownership fit for the future, by putting people in control of the cash they invest in their home.
  
  Commonhold-type designs are used all over the world. The autonomy and control that it attends to are considered granted in many other nations. It can and does work and the government is identified, through both brand-new commonhold developments and by making conversion to commonhold much easier, to see it settle - so countless existing leaseholders can also gain from this action change in rights and security.
  
  Housing and Planning Minister Matthew Pennycook said:
  
  " This government promised not only to offer instant relief to leaseholders suffering now but to do what is necessary to bring the feudal leasehold system to an end - and that is exactly what we are doing.
  
  " By taking decisive actions to revitalize commonhold and make it the default tenure, we will make sure that it is property owners, not third-party property managers, who will own the buildings they live in and have a greater say in how their home is handled and the expenses they pay.
  
  " These reforms mark the start of the end for a system that has seen countless property owners subject to unreasonable practices and unreasonable costs at the hands of their property managers and build on our Plan for Change commitments to drive up living standards and produce a housing system fit for the twenty-first century."
  
  Following the introduction of an extensive brand-new legal structure for commonhold, brand-new leasehold flats will be banned, and in the meantime the federal government will continue to execute reforms to help countless leaseholders who are currently experiencing unreasonable and unreasonable practices at the hands of dishonest freeholders and managing representatives.
  
  The government has already empowered leaseholders with more rights and security - allowing them to purchase their freehold or extend their lease without needing to wait 2 years from the point they acquired their residential or commercial property, and overhauling the right to handle - putting more leaseholders in the driving seat of the management of their residential or commercial property and service charges.
  
  Progress will be made as rapidly as possible to make it less expensive and much easier for leaseholders to buy their freehold or extend their lease, and to make it easier for leaseholders to challenge unreasonable service fee boosts.
  
  Changes set out in the Commonhold White paper consist of:
  
  - New guidelines that will make it possible for commonhold to work for all types of developments, including mixed-use buildings and permitting shared ownership homes within a commonhold.
• Greater flexibility over advancement rights, assisting designers build with self-confidence and keeping safeguards for the consumer.
• Giving mortgage lenders greater guarantee with new procedures to safeguard their stake in structures and protect the solvency of commonholds - such as necessary public liability insurance and reserve funds and greater oversight by commonhold unit owners to keep costs economical.
• Strengthening the management of commonholds, with new guidelines around selecting directors, clear requirements for repair work, and mandating usage of reserve funds