Building Safety Act exclusion on lease extensions soon to be remedied

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Date:  29/09/2023
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The unintended consequence of the use of wording within the qualification section of the Building Safety Act 2022 meant that leases which underwent the extension process were excluded from that qualification; this is something we reported on within following article:

We are pleased to report that this error is soon to be addressed in the form of an amendment to the Levelling-up and Regeneration Bill 2023. Amendment #243 of this states that “A qualifying lease varied, or subject to any surrender and regrant, remains a qualifying lease”, and that this will take effect retrospectively.

This is good news for those who live in high-rise buildings and were quite rightly holding off on extending their lease due to the concern of severing oneself from the receiving those protections afforded by the Building Safety Act, principally being safeguarded against costs that should be levied against the original developer for inherent building defects, as those covered by that legislation.

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