Over three in five (64%) landlords do not think the Government will deliver leasehold reform by the end of the Parliament, research by Landbay has revealed.

In March, the Government said it would ban the sale of new leasehold homes by the end of the current Parliament, with ministers describing it as the end of a centuries-old "feudal system".

However, the buy-to-let lender found that only 36% of landlords thought this was achievable.

Under the current leasehold system, freeholders own the building, and leaseholder buys the right to occupy a flat within it for a fixed period.

The Government said it wants to move to a system of homeownership more in line with the rest of the world, known as commonhold, where homeowners own a share and have control over the buildings in which they live.

A white paper published in March stated the sale of new leasehold flats would be banned and commonhold "reinvigorated" with a new legal framework.

Sales and distribution director at Landbay, Rob Stanton, described the Government’s ambition to abolish leaseholds as a "bold step" towards property ownership modernisation.

He added: "Our research suggests there is a lot of scepticism out there among landlords, with nearly two thirds doubting it can be achieved by the end of this parliament. While the intent to reform a system often seen as outdated is welcome, delivering such sweeping changes requires robust implementation.

"With the political demise of Angela Rayner, the abolishing of leasehold tenure is beginning to look less certain."

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