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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Currently ranked 1,545 out of 1,862 open petitions, and 28,773 out of 98,557 petitions ever created.
Andrea Manzini Silvio Giuseppe
Tuesday 13 March 2018
Wednesday 12 September 2018