22nd April 2022
Today, the government announced that the ban on ground rent in the Leasehold Reform (Ground Rent) Act 2022 will come into force on 30th June. From that date, anyone buying a home on a new long lease will no longer be subject to a landlord charging ground rent.
Leasehold Minister, Lord Stephen Greenhalgh said:
“This is an important milestone in our work to fix the leasehold system and to level up home ownership.
Abolishing these unreasonable costs will make the dream of home ownership a more affordable reality for the next generation of home buyers.
I welcome the move from many landlords who have already set ground rent on their new leases to zero and I urge others to follow suit ahead of this becoming law.
The move forms the first part of the government’s reform package that will make homeownership cheaper, fairer and more secure.”
Other information:
- Leasehold Reform (Ground Rent) Act 2022
- Reform of ground rents passes into law
- 15 businesses give commitments to remove terms that cause ground rents to double in price
- Rising ground rent
- Can my landlord increase the ground rent?
- I have a shared ownership lease. How is the rent that I pay calculated?
