Twenty-one days. That is all that remains before one of the most consequential leasehold reform consultations in a decade slams shut, and yet most flat owners in England and Wales have never heard of it. On 21 October 2026, the government's consultation on enfranchisement valuation rates closes, and the numbers it produces will decide how much every leaseholder pays to extend a lease or buy a freehold for years to come. This is why the leasehold reform bill valuation consultation September 2026 period matters so much: it sits at the crossroads of political promises, a stalled valuation review, and a Bill that still has not been formally introduced to Parliament.
This article sets out, as of Tuesday 29 September 2026, exactly where leasehold reform stands, what is confirmed, what is merely expected, and what leaseholders and freeholders should be doing right now.
Key Takeaways
- Prime Minister Andy Burnham has committed to bringing the Commonhold and Leasehold Reform Bill forward "in this parliamentary session", but no fixed introduction date has been confirmed.
- The valuation-rate consultation, covering the deferment and capitalisation rates used to price lease extensions and freehold purchases, closes on 21 October 2026.
- The Housing Committee wants the £250 ground rent cap to run for 20 years, not the government's proposed 40 years, before rents fall to nil.
- Marriage value abolition is still not in force, pending a Court of Appeal hearing in April 2027, a critical fact for anyone with a lease near or below 80 years.
- Service-charge transparency rules under the 2024 Act are due from 2027, but valuation and enfranchisement timing remain the biggest open questions for 2026-27.
Timeline: Leasehold Reform Bill Valuation Consultation September 2026 and Beyond
The reform process has moved in stages since the start of the year. The table below summarises the confirmed and expected milestones.
| Date | Milestone | Status |
|---|---|---|
| 27 January 2026 | Draft Commonhold and Leasehold Reform Bill published for pre-legislative scrutiny | Confirmed |
| 27 May 2026 | Housing Committee report published, recommending changes to ground rent cap duration, mandatory commonhold, and a managing agents regulator | Confirmed |
| July 2026-21 October 2026 | Consultation on enfranchisement valuation rates (deferment and capitalisation rates) | Open now, closes 21 Oct 2026 |
| September 2026 | PM Andy Burnham commits to bringing Bill forward "in this parliamentary session" | Confirmed political commitment |
| 28 October 2026 | Autumn Budget | Scheduled |
| This parliamentary session | Formal Bill introduction | Expected, not guaranteed |
| Late 2027 | Government's proposed ground rent cap regime targeted to take effect | Expected, not guaranteed |
| From 2027 | Service-charge transparency rules (annual building reports, standard demand forms) under the 2024 Act | Due to take effect |
| April 2027 | Court of Appeal hearing on marriage value abolition | Scheduled |
It is worth stressing that "this session" is a political commitment, not a legislative guarantee. Sessions can run long, get interrupted by other priorities, or see Bills amended significantly between introduction and Royal Assent. Anyone making financial decisions based on an assumed reform date should treat every figure above as a direction of travel, not a certainty.
For background on how the draft Bill reached this point, see our earlier explainer on the Commonhold and Leasehold Reform Bill 2026 explained.
What the Valuation-Rate Consultation Actually Means
The valuation-rate consultation sounds technical, but its impact is very real for anyone buying a lease extension or freehold. Two figures drive the premium calculation:
- The deferment rate, used to work out the present-day value of the freeholder's right to get the property back at the end of the lease.
- The capitalisation rate, used to value the income stream from ground rent over the remaining term.
In plain terms: the higher the deferment rate, the lower the premium a leaseholder typically pays, because the freeholder's future interest is discounted more heavily. The reverse is also true, a lower deferment rate tends to push premiums up. Capitalisation rates work in a similar way for the ground rent income component.
The government has not published proposed rate figures as part of this piece, and we are deliberately not speculating on numbers here. What matters right now is that the consultation exists, closes on 21 October 2026, and its outcome will directly shape enfranchisement pricing once implemented. Any change in these rates will ripple through every lease extension and freehold purchase calculation across England and Wales, which is precisely why RICS valuers are watching this consultation closely.
Our earlier piece on the South East England leasehold reform commonhold Bill lease extension valuation guide covers how regional valuers are already adjusting their approach in anticipation of change.
The Dilemma: Leases Near or Below 80 Years
This is the sharpest practical question facing leaseholders today. Under current rules, once a lease drops below 80 years remaining, marriage value becomes payable, a significant additional cost on top of the standard premium. The Leasehold and Freehold Reform Act 2024 was meant to abolish marriage value altogether, but that provision is still not in force, and a Court of Appeal hearing is scheduled for April 2027 to resolve legal challenges to the change.
This leaves leaseholders with a genuine dilemma:
Extend now, under current rules:
- Marriage value still applies below 80 years, but the valuation framework is known and predictable.
- Avoids the risk of further delay while litigation and legislation remain unresolved.
- Provides certainty for remortgaging, selling, or simply peace of mind.
Wait for reform:
- If marriage value abolition eventually survives the Court of Appeal challenge and takes effect, premiums below 80 years could fall.
- But the timeline is uncertain, the Court of Appeal will not sit until April 2027, and any legislative change could take longer still to implement.
- Leases continue ticking down while waiting, which can itself increase costs.
There is no universally correct answer. The right choice depends on how close a lease is to 80 years, personal plans to sell or remortgage, and appetite for uncertainty. This is exactly the kind of decision where an independent RICS valuation makes the difference between guesswork and an informed choice. For a deeper look at how surveyors are recalibrating for these disputes, see our guidance on leasehold reform 2026 building survey protocols for valuation adjustments in ground rent disputes.
What Freeholders Should Consider
Freeholders are not bystanders in this process. Several developments deserve attention:
- Ground rent cap duration is still contested. The Housing Committee wants a 20-year cap period before rents fall to nil; the government's own draft proposes 40 years. This gap has not been resolved and will materially affect ground rent income projections.
- Right to manage changes already apply. Since March 2025, thresholds and cost rules for right to manage have changed, and the two-year ownership rule was abolished in February 2025, both already reshaping how quickly leaseholders can act.
- A managing agents regulator has been recommended. If adopted, this could change compliance obligations and costs for freeholders and managing agents alike.
- Valuation rate changes cut both ways. Freeholders selling their interest, or negotiating lease extension premiums, need to understand how deferment and capitalisation rate changes could affect portfolio valuations.
Freeholders managing blocks or portfolios should also review our analysis on Autumn 2026 party wall implications and block conversions for London surveyors.
Commonhold: What It Would Mean for New Flats
The Housing Committee has backed mandatory commonhold for new residential flats, a significant departure from the government's current position, which favours encouraging commonhold rather than mandating it. Commonhold removes the leasehold structure entirely, owners hold their flat as a freehold interest and jointly manage shared areas through a commonhold association, with no ground rent and no lease to run down.
If mandatory commonhold for new-build flats becomes law, it would fundamentally change how new developments are structured, valued, and financed. Existing leaseholders would not be automatically converted, but the direction of travel is clear: leasehold as the default tenure for flats is under sustained pressure. For a practical look at how this affects surveying practice, see our checklist for commonhold conversions and valuation impacts.
Service Charges: Transparency Rules Coming in 2027
While valuation rates dominate headlines, service charge reform is quietly moving forward on a firmer timetable. Under the 2024 Act, from 2027 leaseholders should expect:
- Annual building reports, giving a clearer picture of a block's condition and planned works.
- Standardised service charge demand forms, making it easier to compare and challenge charges across different managing agents and freeholders.
These changes will not resolve every dispute, but they should reduce the information gap that has long frustrated leaseholders trying to scrutinise costs. Surveyors are already preparing clients for this shift, see our guidance on surveyor strategies for valuation adjustments and client risk communication.
How a RICS Leasehold Valuation Supports Negotiation and Tribunal Claims
With valuation rates under review, marriage value unresolved, and a Bill not yet introduced, this is precisely the environment where an independent, evidence-based valuation matters most. A RICS-regulated leasehold valuation from Prince Surveyors provides:
- A defensible premium calculation based on current law, ready to withstand scrutiny in negotiation or at the First-tier Tribunal.
- Clear evidence for leaseholders deciding whether to extend now or wait for reform.
- Portfolio-level valuation support for freeholders assessing the impact of proposed ground rent cap and rate changes.
- Expert witness reports for disputes arising from the 2024 Act's already-implemented changes, including right to manage thresholds.
Our team regularly acts as expert witness in these disputes, see our related work on expert witness preparation for 2026 valuation disputes under the Leasehold and Commonhold Reform Act.
FAQ
Is the Leasehold and Commonhold Reform Bill law yet?
No. A draft Bill was published in January 2026 for scrutiny. The Prime Minister has committed to introducing it "in this parliamentary session", but it has not yet been formally introduced or passed.
What happens if I miss the 21 October 2026 valuation consultation deadline?
The consultation deadline concerns public and professional responses to government policy, not individual leasehold transactions. Existing lease extension and enfranchisement claims can still proceed under current rules regardless of the consultation timetable.
Should I extend my lease now or wait for reform?
This depends on your lease length, particularly whether you are near or below 80 years, and your personal timeline for selling or remortgaging. A RICS valuation can model both scenarios to inform your decision.
Has marriage value been abolished?
Not yet. Although the 2024 Act intended to abolish it, the provision is not in force, pending a Court of Appeal hearing scheduled for April 2027.
When will the ground rent cap take effect?
The government has targeted late 2027 for its proposed 40-year cap structure, though the Housing Committee recommends a shorter 20-year period. Neither timeline is guaranteed until legislation is finalised.
Conclusion and Next Steps
September 2026 has brought political momentum but not legal certainty. The Prime Minister's commitment to bringing the Bill forward this session is significant, yet the ground rent cap duration remains contested, marriage value abolition is stuck pending a 2027 court hearing, and the valuation-rate consultation that will shape every future premium calculation closes in just three weeks.
For leaseholders, particularly those with leases near or below 80 years, the sensible next step is to get an independent RICS valuation now, one that reflects current law but is alert to how the consultation outcome and Bill progress could shift the picture. For freeholders, understanding how proposed rate and cap changes affect portfolio value is equally pressing.
Prince Surveyors provides RICS chartered leasehold valuations across London and England and Wales, supporting lease extension negotiations, freehold purchases, and tribunal claims with evidence that stands up to scrutiny. Contact our team to discuss your position before the next stage of reform takes shape.