Millions of homeowners could be 'sorely disappointed' as general election throws new law into question

A proposed new law affecting millions of homeowners could be scrapped after the prime minister called a general election for July 4.

One of the key property bills currently making its way through Parliament is the Leasehold and Freehold Reform Bill, which has cleared the Commons and is now awaiting the Report stage in the House of Lords.

Currently, if your property is a leasehold, you own the house but not the building or land it sits on, which means you pay ground rent to the freeholder. The proposed new law would see this form of homeownership banned for new homeowners and make it cheaper and easier for current leaseholders to extend their lease, buy their freehold, and takeover management of their building.

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Labour supports the move to abolish the leasehold system but has criticised the Conservatives for 'watering down' the reforms. In a recent speech, deputy Labour leader Angela Rayner said the party would "end the mediaeval leasehold system, with root and branch reform" if they win the election.

Now, the Tories have just days left to get the legislation through before Parliament is dissolved ahead of the vote. Scores of bills that were making their way through the House of Commons will be dropped or scrapped entirely. Called the "wash-up" period, both main parties have until just May 25 to push through any laws that they both agree on, but with politics more divisive than ever, it is not clear what laws will get through.

Property experts say homeowners awaiting the new legislation may be "sorely disappointed". The government first asked for a consultation on the issue of large leasehold fees in 2017, eventually