It covers some specific policy proposals and our response focuses on reforms that would give more leaseholders the power to enfranchise or take over the management of their building. While this is appealing on the face of it, the nature of mixed-use buildings could be more onerous for residents and protections are needed.

The consultation is part of a broader reform programme for leasehold and commonhold. UK Finance wants to see consumers supported, with poor practices in this market ended and historic wrongs corrected. We are, however, mindful that do not want a two-tier market to develop as this would be detrimental for existing leaseholders and mortgage lenders.