King Charles has announced that a Leasehold and Freehold Bill will ban leaseholds for new houses, but not new flats, in England and Wales, and increase the standard lease extension period to 990 years.
In the King’s Speech, the Conservatives have committed themselves to ensuring that all new homes in England and Wales will have to be sold as freehold properties.
Levelling Up Secretary Michael Gove intends to phase out the “feudal” leasehold system in England and Wales. Ministers also want to cap all ground rents on existing leasehold properties to a “peppercorn” rate, as well as change the standard contract lease extension from 90 years to 990 years.
They also want to end the requirement for someone to have lived in a property for two years before they can propose an extension. The UK Government recently confirmed that it has agreed a pledge with five sector-leading insurance brokers, which could mean thousands of leaseholders in buildings with identified fire safety issues witness a substantial reduction in their insurance premiums.
They are also promising to have a cap of 15% on the proportion of the premium that brokers take to compensate for their work in arranging the insurance. The Financial Conduct Authority (FCA) report on broker remuneration found that this amount can be as high as 60% of the cost of the premium paid by leaseholders.
Also, the Renters Reform Bill will be carried over to the next Parliament, as confirmed in the King’s Speech. However, Section 21, which allows landlords to evict tenants on a shorthold tenancy, will not be scrapped until the court possession process is modernised and speeded up.
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"Hi Jacqui and everyone at fraser wood, I would like to thank you all for your your support during the last few months,
You were all excellent regards my sale and purchase. And again if which is a big if I ever sold again I will be calling you for your services.
Take care and a Merry Christmas and a happy new year."
RAINBOW STREET, BILSTON
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"Dear Andrew I would like to say a very big thankyou for a first class professional job you did for me , I am over the moon at how quickly you carried out what I thought would be a long winded job , I would recommend you and Fraser Woods to anyone who requires a first class job ,once again Thankyou"
MIDDLEMIST GROVE, HAMSTEAD - FREEHOLD
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"Very happy with the service given in regard to the sale."
SPRING COURT, WALSALL
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"For probate purposes I asked three estate agents to view property – Fraser Wood and two other local Agents. Out of the three Andrew Perrin was definitely the most knowledgeable and enthusiastic about the property and I was very happy with the probate valuation report produced. I selected Andrew to then sell the property and again I found him plus all of the Fraser Wood Staff very efficient, friendly and helpful. This is definitely a stark contrast to other estate agents I have used in the past. Even when I dropped the keys into the office I was greeted warmly by the staff. Well done on such high standards and thanks again for all of your help!"
FURZE WAY, WALSALL
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"The residential team and myself were subjected to a long, ever-changing and at times complicated and frustrating set of circumstances during the sales process, which tested the patience of everyone involved. However, the team dealt with multiple unexpected events in a highly professional and diligent manner and often went above and beyond their agreed remit in order to speed up the sales process. I was kept fully informed at every ‘twist and turn’ and I have no hesitation in recommending Fraser-Wood (Midlands) Limited for all aspects of residential sales and acquisitions."
THE GROVE, WALSALL
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"I just wanted to say a big thank you to the fraser wood walsall team for helping me secure this house. Thank you for all the support, advice and professionalism over the last few months. "
BROADWAY WEST, WALSALL
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"We were having difficulties with a lease extension with no light at the end of the the tunnel. Matters changed immediately when Andrew became involved; there was clarity, urgency and ultimately success. My wife and I would like to thank Andrew for his efforts in breaking down the impasse. I have no hesitation in recommending him in all areas pertaining to property matters."
NEWHALL FARM CLOSE, SUTTON COLDFIELD
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"To Andrew, Carol, Diane and the staff, thank you for your help in selling my mum's property. You're too kind and your professionalism and dedication to your business has made a very difficult time more bearable and less stressful for me. Best wishes to you all and for continued success in all that you do."
WESTON STREET, WALSALL
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"Dear Denise and Jacqui, Thank you both so much for your help. You have been an excellent team to converse with and work with on the purchase of the home ...we wouldn't hesitate to use Fraser Wood in the future if we ever come to selling. Thank you again for your help."
ABINGDON WAY, BLOXWICH
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"We are very thankful for the excellent work that you and the team have done in helping expedite the process. We will definitely be sending positive feedback as we were extremely satisfield with the overall experience and would recommend Fraser Wood in the future."
PURCHASE CAMERON ROAD, WALSALL
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"I attended your offices today to sign the lease documents and collected the keys to flat 3 Arboretum View. I was met by a lovely lady who was very professional and friendly. On my arrival to the flat there was a welcome card, what a lovely touch. The whole process has been a lovely experience. Thank you all."
ARBORETUM VIEW, WALSALL
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"We are delighted to receive your email and we would like to extend a big thank you to your staff for their patience towards us even in challenging time during this process. We would like to extend our gratitude to Jackie for her advice and understanding. It's our pleasure to choose Fraser Wood and we continue to use in the near future. Your staff are brilliant. Thank you again."
HARDEN ROAD, WALSALL - BUYER
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"Thank you for all you have done. Sorry it took so long - but that was not your fault."
HARDEN ROAD, WALSALL
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"To all at Fraser Wood, thank you all so much for all your help with the sale and purchase; I would have not got through it all without you at the end of the phone. Thank you all so much. PS Going to miss our chats Denise, you are brilliant."
BEACONVIEW ROAD, WALSALL
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"Andrew thank you and your amazing team for all the careful and friendly advice given to achieve this result in a difficult market and with the complexity of the lease extension.
From the start I knew we were in safe hands which took much of the anxiety out of what at times were difficult decisions to make. Thank you."
ELMSDALE COURT, WALSALL
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"I am most grateful to Andrew and Denise for making the whole period easy to follow. Thank you so much."
HIGH VIEW, HIGHGATE ROAD, WALSALL
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" From the moment we moved to Fraser Wood Estate Agents from another well-known estate agent, we knew we were in professional hands and our dream move would be realised. Every member of staff we have met or had dealings with have been nothing but professional, reassuring and supportive. We received updates on a regular basis and when tasked with an enquiry, responses were almost immediate. Every step of our journey with Fraser Wood has been an absolute joy because we were made to feel like a customer to be valued.
We have no hesitation in recommending Fraser Wood, Walsall Branch; staff who care and work hard to ensure a smooth sale as is possible and who put their clients first. "
LEVEN DRIVE, WILLENHALL
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"Can I just say though that I’ve been very impressed with the team at Fraser Wood in keeping me updated on progress, and regularly chasing things on our behalf. When we come to sell off the next property in our portfolio we’ll definitely be straight in touch."
TELFORD ROAD, WALSALL
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"Andrew .... I'd like to express my gratitude for your assistance and would not hesitate to recommend your services to others. Just to be able to talk through my situation with you was very insightful and I appreciate the time given."
Leasehold advice - Chelmsford
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"I contacted Fraser Wood to assist with a Freehold purchase through information on the ALEP website. Mr Perrin delivered an outstanding service from start to finish. He is very professional, friendly, knowledgeable and worked efficiently to a tight deadline, he kept us updated at all times and produced an excellent detailed report. Would not hesitate to recommend him and is fee was very reasonable . Many thanks Andrew"
Freehold Purchase
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"I contacted Andrew Perrin at Fraser Wood after finding his name listed on the ALEP website as an experienced lease extension valuer. He was incrediby friendly, helpful and professional and was happy to talk through everything with me. I was under a tight deadline and he returned a desktop valuation to me very speedily. His report was clear, concise and thorough and impressed my solicitor! I'm so thankful to have found someone so knowledgeable to help with a rather stressful process. I'll also add that his fee to do so was very reasonable. Thanks Andrew!"
Lease Extension - Shrewsbury
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"Dear Jacqui and team at Fraser Wood Estate Agents, thank you very, very much for your patience and hard work in achieving Parklands Gardens. Well done!"
Parklands Gardens, Walsall
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From my first meeting with Lee to completing on the sale of my property, Lee and his team (Jacquie, Denise and Carol) were all very helpful, providing an excellent professional service. I live overseas, so knowing the team were managing the process so well made the whole process less stressful. I chose Fraser Wood due to their reputation for high quality service. A big thank you to the team for their hard work.
Martin Road Walsall
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Jacqui, Denise and the wonderful team at Fraser Wood, many thanks for your help in finding our new lovely home .. your prompting and checking for updates was really instrumental to keep the ball rolling and achieving completion in the desired time frame.
Skip Lane, Walsall
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Hi Denise & Jacqui, we have indeed completed. Thank-you to everyone at Fraser Wood in assisting with the sale. It took it’s time but we’re now done. All the best.
Argyle Road, Walsall
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The gentleman that showed me around the property was very friendly and helpful. We have dealt with many lettings agents in our search and have found many to be less than helpful... he not only answered all my queries but did so in a pleasant manner.
Northumberland Way, Walsall
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I can't recommend this company enough. I was referred to Andrew Perrin to deal with a lease extension .. the first time I spoke to him he explained what needed to be done. He got on to it and got it sorted quickly and in a professional manner.
Plestowes Close, Shirley
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It makes such a difference when you deal with a well established company with many years knowledge and experience...they were excellent in every way and I would highly recommend them and certainly use them again.
Richard Place, Walsall
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Absolutely 100% fantastic! Jacqui and Denise kept me informed every step of the way while selling my house in record time. Always friendly and polite they were truly fantastic dealing with me, as I hadn't a clue what I was doing, they made it so easy.
Cairns Street, Walsall
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Thank you for all your help during this journey and thank you for all your patience and support during this process.
Burnside Gardens, Walsall
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Your main priority was to represent the seller .. throughout the process your team incorporated a friendly smooth pleasant service for the buyer (myself). I cannot fault the interaction I've had with you and team throughout this process
Lancaster Place, Bloxwich
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Thank you Denise/Jacqui, I am very happy with the final outcome.
Sarehole Road, Hall Green
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Thank you for your excellence and diligence ... especially at such short notice.. Thank you again for everything ... we will be recommending you.
Booths Lane, Great Barr
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Thank you very much for your efforts and hard work in completing the sale, its not been easy!
Mounts Road, Wednesbury
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To the team at Fraser Wood, thank you to you all you who assisted in the sale. Best wishes.
Hawes Road, Walsall
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I was impressed from the first meeting with Lee Smith.. his sales team were equally good, their persistence made an at times difficult situation much easier. Fraser Wood are longstanding and thoroughly deserve their reputation. I would recommend them.
Buchanan Road, Walsall
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It wouldn’t have been possible without your efforts so thank you once again.
Sutton Road, Walsall
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Andrew, you have been so helpful, a huge "thank you" for guiding me through all this, and, genuinely, the fascinating chat we had about the lease situation generally...I will not hesitate to recommend you.
Limes Avenue, Barnes, London
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Steve, thank you for your excellent work selling the Windmill. Kind regards and thanks again.
Highgate Road, Walsall
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Many thanks for your help in our purchase. Your whole team were pleasant, helpful and on the ball ..thanks for the surprise gift box when we collected the keys .. would be happy to recommend you to friends and family.
Cornwall Road, Walsall
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Dear Andrew, I just wanted to take a moment to thank you for your support with the recently completed purchase ... without your support it would not have been concluded and for that you will always have my gratitude.
Land Watling Street, Wilnecote
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We found your staff a delight to deal with Carole Jacqui & Denise have been wonderful. The professionalism, reassurance and understanding the customers concerns were put at the centre of every conversation ..keep connecting people to their dream homes.
Lonsdale Road, Walsall
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I have been very happy with your services ...please pass on my thanks to all the staff at your office who have been involved and kept on top of proceedings, keeping me up to date ... I would have no hesitation in recommending you in the future.
Lonsdale Road, Walsall
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I was very impressed with the service received, communication was excellent and endeavouring to help with added issues. Thank you to all staff.
Lichfield Road, Rushall
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Hi All, thank you for your assistance. We finally got there! Honestly, I'm glad it's all over.
Canning Close, Walsall
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Everything done very efficiently. Particularly impressed with the viewing arrangements and the chasing up of the buyer when slow progress was encountered from the buyer's solicitor.
Mountbatten Court, Walsall
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I would like to thankyou for the sale of 72 Broad Lane you helped so much for the family ... done amazing ...job thank you.
Broad Lane, Pelsall
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Andrew .. Thank you for your patience, your always pleasant conversation, and your fine efforts in achieving this result.
College Drive, Handsworth Wood
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I was very pleased with the overall service I received... I was seeking good communication due the distance I was from Walsall. I was pleased Fraser Wood lived up to their initial promises throughout the sales process which was very quick and smooth.
Richard Road, Walsall
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Many thanks for all your hard work..The sale process has been pretty much stress free and that is down to the work you have done, so again, thank you for that. I would not hesitate to recommend Fraser Wood to friends and family
Scott Road, Walsall
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