Has Ground Rent Been Abolished?
It Was Announced in the Queen's Speech Last Week That Ground Rents for New Leasehold Properties Will Be Abolished, with a Small Sum in Rent Taking Their Place...
It was announced in the Queen's speech last week that ground rents for new leasehold properties will be abolished, with a small sum in rent taking their place.
Do I still have to pay ground rent?
You do not have to pay ground rent unless your landlord has sent you a formal, written demand for it. They can take legal action if you do not pay after you've received the demand. Your landlord can recover unpaid ground rent going back 6 years - they can ask you for the full amount in one go.
What is the law on ground rent?
Most leases of flats contain a covenant that the flat owner must pay an annual rent to the landlord or freeholder. This sum is known as a 'ground rent'. ... Ground rents that are (or will be in the future) in excess of £250 per annum (or £1,000 per annum in Greater London), could be a cause for concern.