Leasehold Reform (Ground Rent) Act 2022
| Act of Parliament | |
 | |
| Long title | An Act to make provision about the rent payable under long leases of dwellings; and for connected purposes. |
|---|---|
| Citation | 2022 c. 1 |
| Introduced by | Michael Gove, Secretary of State for Levelling Up, Housing and Communities (Commons) |
| Territorial extent | England and Wales |
| Dates | |
| Royal assent | 8 February 2022 |
| Commencement | 1 April 2023 |
Status: Current legislation | |
| Text of statute as originally enacted | |
| Text of the Leasehold Reform (Ground Rent) Act 2022 as in force today (including any amendments) within the United Kingdom, from legislation.gov.uk. | |
The Leasehold Reform (Ground Rent) Act 2022 (c. 1) is an act of the Parliament of the United Kingdom. It defined the peppercorn rent as a price of one peppercorn per year and prohibited ground rent greater than that price on new leases.[1][2]
Rising ground rents had prevented purchasers of leasehold properties in England from selling their homes since lenders refused to approve mortgages.[2] This act is a part of the UK government's programme to reform the leasehold system.[3]
See also
[edit]References
[edit]- ^ "Leasehold Reform (Ground Rent) Act 2022", legislation.gov.uk, The National Archives, 2022 c. 1
- ^ a b "Leasehold scandal: ground rents on new leases to be banned from 30 June". Which?. 10 June 2022. Retrieved 12 March 2023.
- ^ "Future homebuyers to be freed from expensive ground rent bills on 30 June". 22 April 2022. Retrieved 12 March 2023.
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