Posted 22.04.22
GOV.UK: Further reading
Future homebuyers will see their prospective property bills reduce in just over two months, when the ban on charging ground rent on new leases in England and Wales comes into force.
The government is taking action to rid future homeowners of annual costs - known as ground rent. Sometimes worth hundreds of pounds a year, these charges provide no clear service in return and can be set to escalate regularly, with a significant financial burden for leaseholders.
From 30 June 2022, anyone buying a home on a new long lease will now be freed from these annual costs.
Landlords will be banned from charging ground rent to future leaseholders, under a new law that will lead to more transparent home ownership for thousands of home buyers.
In preparation, many landlords have already reduced ground rent to zero for home buyers starting a new lease with them.
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