The Government yesterday confirmed plans to cap ground rents at £250 per year but homeowners will need to wait until late 2028.
The draft Commonhold and Leasehold Reform Bill was published in Parliament yesterday, stating that ground rents will be capped at £250 per year before being reduced to a peppercorn after 40 years.
The draft Bill will now move into pre-legislative scrutiny. Subject to parliamentary timings, the ground rent cap could come into force in late 2028
New leasehold flats will also be banned and replaced with a new commonhold system that is being consulted on.

