Property News · January 19, 2024

Freeholders living off ‘rentier structure’ with ‘exorbitant’ ground rent, MPs say


MPs questioned freeholder groups in committee hearing over leasehold reform billMPs have laid into freeholders for creating a “rentier structure” in England and Wales in recent years, charging “exorbitant” ground rents of £8,000 a year in some cases, as a freeholder group pushed back against proposed changes to leasehold laws.The government’s long-awaited leasehold reform bill, which would make it easier and cheaper for leaseholders to extend their lease and buy the freehold, and will ban leaseholds on newly built houses – but not flats – in England and Wales, is at the committee scrutiny stage. Continue reading…

Source : theguardian.com
Read more…Freeholders living off ‘rentier structure’ with ‘exorbitant’ ground rent, MPs say