answer text |
<p>The Government understands the difficulties and frustrations of some existing leaseholders
who are unhappy about the amount of ground rent they are required to pay and feel
their leases should be changed. There are no current plans to legislate in this area.</p><p>To
address the problem of doubling ground rents on existing leases, the Government has
encouraged industry to fix the problem they created. We announced a ‘Public Pledge
for Leaseholders’ on 28 March 2019, now signed by over 60 leading property developers,
freeholders and managing agents.</p><p>This contains a commitment for freeholders
to identify any existing leases within their portfolio which contain ground rents
that double more frequently than every 20 years. They have also committed to contact
the relevant leaseholders and offer to vary their leases.</p>
|
|