The Law Commission this week outlined a variety of potential reforms to the system, but stopped short of suggesting leaseholds be scrapped. Holders of shorter leases were watching out for any potential changes to so-called marriage value. Leaseholders must pay this when extending leases of 80 years or less. For many former council tenants who bought their homes in the 1980s, that 80-year point may be close. Campaigners want radical action now.
Bank of England Governor Mark Carney dropped a clear hint on Thursday that the central bank could cut interest rates if it looks like weakness in the economy will persist. His comments sent sterling to a near two-week low against the dollar as he outlined a debate on the Monetary Policy Committee about whether interest rates needed to be cut now.