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Major modification will give house owners a stake in the ownership of their buildings and will hand them more power, control and security over their homes.

• Change will ensure flat owners are not second-class house owners which the unreasonable feudal leasehold system is brought to an end, structure on the Plan for Change ambition to increase living standards
  
  Homeowners will have a stake in the ownership of their buildings from day one, not need to pay ground rent, and will gain control over how their buildings are run under significant strategies to bring the feudal leasehold system to an end.
  
  Plans to renew commonhold and make it the default tenure have been revealed today. Unlike leasehold ownership where third-party property managers own structures and make choices on behalf of homeowners, these modifications will empower effort house owners to have an ownership stake in their structures from the start and will provide greater control over how their home is handled and the expenses they pay.
  
  Supporting shipment of a manifesto dedication - these reforms mark the beginning of the end for the feudal leasehold system. The modifications complement the Plan for Change milestone to construct 1.5 million homes, combatting the intense and established housing crisis by making homeownership fit for the future, by putting individuals 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 offers for are considered given in many other countries. It can and does work and the government is identified, through both new commonhold advancements and by making conversion to commonhold easier, to see it settle - so millions of existing leaseholders can also gain from this step change in rights and security.
  
  Housing and Planning Minister Matthew Pennycook stated:
  
  " This federal government guaranteed not only to provide instant relief to leaseholders suffering now but to do what is required to bring the feudal leasehold system to an end - which is specifically what we are doing.
  
  " By taking decisive actions to reinvigorate commonhold and make it the default tenure, we will guarantee that it is house owners, not third-party property owners, who will own the they reside in and have a greater say in how their home is managed and the expenses they pay.
  
  " These reforms mark the start of the end for a system that has seen millions of homeowners based on unfair practices and unreasonable expenses at the hands of their property owners and develop on our Prepare for Change dedications to drive up living requirements and produce a housing system suitable for the twenty-first century."
  
  Following the introduction of an extensive new legal framework for commonhold, new leasehold flats will be banned, and in the meantime the federal government will continue to carry out reforms to assist millions of leaseholders who are presently experiencing unjust and unreasonable practices at the hands of deceitful freeholders and handling agents.
  
  The federal government has already empowered leaseholders with more rights and security - allowing them to buy their freehold or extend their lease without having to wait 2 years from the point they acquired their residential or commercial property, and upgrading the right to manage - putting more leaseholders in the driving seat of the management of their residential or commercial property and service fee.
  
  Progress will be made as quickly as possible to make it less expensive and easier for leaseholders to purchase their freehold or extend their lease, and to make it simpler for leaseholders to challenge unreasonable service fee increases.
  
  Changes set out in the Commonhold White paper consist of:
  
  - New guidelines that will allow commonhold to work for all kinds of developments, consisting of mixed-use structures and allowing shared ownership homes within a commonhold.
• Greater flexibility over advancement rights, assisting developers construct with confidence and preserving safeguards for the consumer.
• Giving mortgage lenders higher guarantee with new measures to safeguard their stake in buildings and safeguard the solvency of commonholds - such as necessary public liability insurance and reserve funds and higher oversight by commonhold system owners to keep costs inexpensive.
• Strengthening the management of commonholds, with new guidelines around designating directors, clear standards for repairs, and mandating use of reserve funds