Government to cap leasehold ground rents at £10 a year 

Uncategorised • 18 October 2018

New leasehold annual ground rents are to be capped at just £10 and the majority of new-build homes will be sold as freehold, under government plans to rid the sector of unfair practices.

At the moment average leaseholders pay more than £300 ground rent each year, with some paying as much as £700.

In recent years developers have sparked outrage by selling houses as leasehold to new buyers with the investors then making money on the freehold. Homeowners have then found that selling their homes is more expensive and can take longer.

Communities secretary James Brokenshire said: “Unfair ground rents can turn a homeowner’s dream into a nightmare by hitting them in the back pocket, and making their property harder to sell. That’s why I’m taking concrete action to protect homeowners and end those unscrupulous leasehold practices that can cost tenants hundreds of pounds.”

Measures to make it easier for leaseholders to get tenant associations formally recognised so they have more power to raise complaints with landlords will also be included within a consultation launched this week.

The consultation runs for six weeks and will ask for views on appropriate and fair exemptions for the houses that can be sold as leasehold, such as shared ownership properties.  To have your say in the consultation click here

It is unclear at this stage what the governments plans are for existing lease hold properties with high ground rents.

Just lettings, just Bristol 

Mayor pledges to double bus usage by offering flat fare across city.  

Bristol Mayor Marvin Rees used his State of the City speech earlier this week to set out plans to try to combat the escalating transport issues within the city.

” I can announce tonight that we are in the process of working towards a Heads of an Agreement that sets out a joint relationship based on long term and sustained public and private investment in the bus system.

Working with our partners in the West of England, the aim of the agreement will be to double bus usage to 20% of all journeys through:

  • Enhanced service frequencies on the core network, doubling the frequency on main routes
  • Greater Service stability through increased enforcement of bus lanes and highway improvements
  • Use of new technology to inform where services are most delayed
  • Extension of quality and frequency services into less well served areas.
  • Extension of quality services into less well served areas

And, a single flat fare zone, covering the whole city. Because of Bristol’s geography, the less affluent parts of the city currently pay more than the wealthier areas to travel to and from the city centre. FirstBus and ourselves have agreed that we will work towards a standard fare across the city, bringing equality to bus travel.”

Just lettings, just Bristol