Submitted on Tuesday 2nd April 2019
Rejected on Thursday 18th April 2019
Current status: Rejected
Rejection code: no-action (see below for details)
Government must act on the Parliamentary Committee's report on Leasehold Reform
Onerous Leases represent an underhand way of building developers acquiring an additional revenue stream from their building developments, usually through retaining and subsequently selling the freehold to investment companies which gain income from ground rents increasing on a compound basis
James Brokenshire recently announced a government backed pledge 'to free existing leaseholders trapped in onerous deals'.
The pledge is vague in detail, still allows for the doubling of ground rent every 20 years (3.6% compound growth) and falls woefully short of the Committee's recommendations.
An alternative approach was to link increases in ground rent to RPI, an index now less commonly used than CPI (the latter generally showing lower increases).
A fair approach to ground rent is needed
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
We can't accept your petition because we aren't sure which Parliamentary Committee you are referring to or which recommendations you would like to see enacted.
You could start a new petition setting out clearly which recommendations you would like to see happen.
If you would like leasehold abolished you could sign this petition:
petition.parliament.uk/petitions/238071
18.219.209.144 Sat, 23 Nov 2024 20:16:28 +0000
