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To abolish ground rent payments on existing residential property leases

1)Ground rent is a form of exploitation, particularly when it is set to double over the life of a lease every 10,15,20 or 25 years

2)The government supports setting ground rent to zero on new leases: a disparity of treatment between old and new leases would put existing leases at disadvantage

No service is essentially provided in return for ground rent payments

Freeholders already receive an income when lease is extended

Setting ground rent to zero would likely reduce rent charged to tenants by leaseholder landlords

As an alternative the government should set the maximum ground rent to £200 per year over the life of the lease

Leasehold properties with increasing ground rents are more difficult to sell as lenders are reluctant to approve mortgages to buy these properties

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Signatories

7

Currently ranked 30,523 out of 105,422 petitions ever created.

Diversity index: 7%

Signatures by constituency

Status

Closed

Created By

Andrea Manzini Silvio Giuseppe

Created On

Tuesday 13 March 2018

Closing Date

Wednesday 12 September 2018