The government will introduce a draft commonhold bill as part of its plan to “bring the feudal leasehold system to an end” in late 2025, it has announced.

It said it will also reform ground rents, end the “injustice” of homeowners on freehold estates paying fees and removing the threat of forfeiture, alongside strengthened regulation of managing agents.

The government want to make commonhold the “default tenure” for all flats. Under commonhold, people who buy flats own their home outright, rather than for a set period of time. Commonholders can then join an association, which typically owns and manages shared spaces in the building.