£250 a year cap for ground rents confirmed

We’re delivering another manifesto promise – the biggest shake-up of leaseholder rights in generations. Promise made, promise kept.

Ground rents capped at £250 a year, saving some households hundreds of pounds

Phasing in an end to the leasehold system altogether

Current leaseholders will get the right to switch to commonhold

More transparency on service charges

This is big news for homeowners and a win for so many across our borough.

It matters because the cost of living is the single biggest issue people face. As promised, this is a bold overhaul of a broken leasehold system and includes moving to a peppercorn over time and giving residents real control over how their buildings are run.

It also scraps the draconian threat of forfeiture and replaces it with a fairer system, delivering a better deal for the 5 million leaseholders today and for future generations.

We’re getting on with reform and backing homeowners.