Submitted on Monday 14th February 2022
Rejected on Monday 21st February 2022
Current status: Rejected
Rejection code: duplicate (see below for details)
Cap ground rent on existing leasehold properties to £250 p.a.
Some freeholders are deliberately inflating freehold values when selling existing freeholds resulting in excessively high ground rents.
Some freeholders impose draconian inflation clauses into leases resulting in unaffordable rises in ground rents.
Both these practices must be abolished.
I have a lease on an apartment sold to me and many investors across the globe on the pretence of a guaranteed net income of 8 to 10%. The scheme failed leaving us to pay extortionate charges on the development one of which is ground rent of £750 p.a. We believe the developer colluded with the new freeholder to sell the freehold at a grossly inflated price thus saddling leaseholders with unaffordable ground rents. This practice is rife, as is extortionate inflation clauses in some leases.
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The Government e-Petitions Team gave the following reason:
There's already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
You are more likely to get action on this issue if you sign and share a single petition.
You may wish to sign this petition which calls for a similar action: petition.parliament.uk/petitions/608589
18.224.58.24 Sat, 18 May 2024 12:03:24 +0100
