Leasehold Reform (Ground Rent) Act 2022
Legislation: Leasehold Reform (Ground Rent) Act 2022
Overview
- Ends ground rents for most new long residential leasehold properties in England and Wales.
- Royal Assent was granted on 8 February 2022 and the Act will be brought into force on 30 June 2022.
The Act will make home ownership fairer and more transparent for millions of future leaseholders. The reputation of the leasehold system has been damaged by unfair practices that have seen some leaseholders contractually obligated to pay onerous and escalating ground rents, with no clear service in return.
The Act will prevent this from happening in future, tackling significant ambiguity and unfairness for future leaseholders.