Ban on leasehold ground rent charges comes into force on June 30th
DLUHC says "future home buyers" will see their "prospective property bills reduce" when the ban on most leasehold ground rent charges comes in to effect in June this year and that ground rent charges "provide no clear service in return and can be set to escalate regularly, with a significant financial burden for leaseholders".
The department advises anyone looking to sign a new lease on their home in the next 2 months to speak with their landlord to ensure their ground rent reflects the changes to ground rent rules.
Future measures will include the right for leaseholders to extend their leases to 990 years at zero ground rent and an online calculator whereby leaseholders will be able to calculate how much it would cost to buy their freehold or extend their lease.