The Government is working on this new type of title which is intended to replace leasehold for new flat developments. Called “strata title” in Australia, there will be no time limit on the ownership and all the commonholders will share the maintenance and repair obligations in common. The aim is effectively to merge freehold and leasehold into one simplified package.

It is unlikely that existing leaseholders will be able to transfer their title over to commonhold although there are some bodies - such as the Council of Mortgage Lenders - arguing for this option.