Following the King's Speech on Tuesday, the government has now launched its consultation on capping ground rents: Modern leasehold: restricting ground rent for existing leases.
The purpose of the consultation is to seek views on limiting the level of ground rent that leaseholders are required to pay in England and Wales, specifically in relation to:
- the problems that existing ground rents can cause for leaseholders, and the scale of these problems;
- which option would be the right one to deliver the aim of giving leaseholders a fairer deal;
- whether there should be a period of delay before implementing any cap; and
- the types of leases which may need to be exempted from any cap to ground rents.
You can respond by completing the online survey at Citizen Space.
Alternatively, you can email a response to Groundrents.Consultation@levellingup.gov.uk
The consultation will last for 6 weeks from today, 9 November 2023.
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It is a historical anachronism, already eliminated for new leases, and we now wish to take action to help those with existing leases.
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