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Leasehold house sale ban - Ground Rent

Leasehold house sale ban - Ground Rent

This article looks at the status of the reforms announced so far around the sale of houses of a leasehold basis, ground rents in new leases, the fees payable by leaseholders for essential information needed on sale and the potential changes to the premium payable for a lease extension or freehold.

Leasehold Reform (Ground Rent) Act 2022

Leasehold Reform (Ground Rent) Act 2022

The Leasehold Reform (Ground Rent) Bill received Royal Assent on 8 February 2022. The main elements of it, i.e. the ground rent restrictions themselves, remained to be brought into force by regulations. This has now taken place; The Leasehold Reform (Ground Rent) Act 2022 (The Act) will come into force on 30 June 2022.

Leasehold Reform (Ground Rent) Act 2022 – Royal Assent

Leasehold Reform (Ground Rent) Act 2022 – Royal Assent

In 2018, the then Secretary of State for Housing, Communities and Local Government, Sajid Javid announced a “crackdown on unfairly sold practices” that would include setting ground rents on new long leases to zero and working with The Law Commission to make the process of purchasing a freehold or extending a lease of a flat “much easier, faster and cheaper”.

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