By Amber Murray Labour will ban the sale of leasehold flats and attempt to replace the system with commonhold, King Charles said earlier today. The government will implement and extend Michael Gove’s modest Leasehold and Freehold Reform Act 2024, which was the last bill to be passed by under Rishi Sunak’s government. Gove walked back any significant reforms to the leasehold system in the bill, such as caps to ground rents, after pressure from pension funds and investors. Labour have previously pledged to take decisive action on the leasehold system, which includes changing costly ground rents …