Announced today!
The UK government are capping ground rents for leaseholders at £250 a year for leaseholders in England and Wales the Prime Minister has announced today, as his government unveiled proposals to ban leaseholds for new flats.
New leasehold flats will be banned, and existing leaseholders will get the right to switch to commonhold in an attempt to give homeowners greater control over their properties, under proposals to be put out to consultation.
Making the ground rent announcement Keir said: “Good news for homeowners, we’re capping ground rent at £250. That means if you are a leaseholder, and your ground rent is more than £250, you’ll be paying less.
“And I’ve spoken to so many people who say this will make a difference to them of hundreds of pounds. That’s really important because the cost of living is the single most important thing across the country.
“So this is a promise that we said we’d deliver, and I’m really pleased that we’re delivering on that promise.”
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