Kings Speech - How will this effect you and us?

THE KING'S SPEECH 2024: 

WHAT WILL IMPACT PROPERTY AGENTS

The UK Government's ambitious legislative agenda to rebuild Britain covers their manifesto commitments to provide better transport, more jobs, and turbocharge building houses and infrastructure. With over 40 Bills announced in the King's Speech today, 17 July 2024, more debates following on, and the first House of Lords debates tomorrow, 18 July, with one on energy, the environment and housing at 11:00 am, what does this all mean for the housing sector?  

Renters Rights' Bill

• Abolish Section 21 to remove the threat of ‘no fault evictions’

• Give renters greater rights and protections and the ability to request a pet in their property

• Make sure private rented homes are safe and secure with a Decent Homes Standard and ‘Awaab’s Law’

• Create a digital database for the private rented sector

• Create a new ombudsman service for the private rented sector

• Prevent discrimination against tenants with children

Draft Leasehold and Commonhold Reform Bill

• Enacting remaining Law Commission recommendations to bolster leaseholders’ fundamental rights

• Reinvigorating commonhold by modernising the legal framework

• Restricting the sale of new leasehold flats

• Regulating ground rents for existing leaseholders

• Bringing the injustice of ‘fleecehold’ private estates and unfair costs to an end

• Implementing the Leasehold and Freehold Reform Act 2024 so that leaseholders can benefit from more rights, power and protections over their homes

Planning and Infrastructure Bill

• Speed up upgrades to the national grid and strengthen renewable energy, in a streamlined delivery process for critical infrastructure. The consenting process for major infrastructure projects will be simplified and a review process for National Policy Statements introduced to allow them to be updated every five years

• Modernise planning committees

• Strengthen the capacity of local planning authorities

• Reform compulsory purchase compensation rules to ensure compensation paid is fair

• Use development to fund nature recovery

Next steps for the legislation

More information on all the draft legislation is now available and Propertymark has been cited relating to our research and survey input from members on Ground Rent issues.

Draft Bills are issued for consultation before being formally introduced to Parliament. This allows proposed changes to be made before the Bill's formal introduction. See pages 69-71 for the Renters' Rights Bill, and 75-77 for the Draft Leasehold and Commonhold Reform Bill.

Information provided by:  https://www.propertymark.co.uk/