call-to-action call-to-action-mobile

Future Homeowners

Fri 29 Apr 2022

Landlords will be banned from charging ground rent to future leaseholders, under a new law that will lead to fairer, more transparent homeownership. It will also apply to retirement homes, which will come into force no earlier than 1 April 2023, and more details will be confirmed in due course.

 

Many landlords have already reduced ground rent to zero for homebuyers starting a new lease with them. Anyone preparing to sign a new lease on a home in the next two months should speak to their landlord to ensure their ground rent rate reflects the upcoming changes.

 

Measures which were announced in 2021, include a new right for leaseholders to extend their leases to 990 years at zero ground rent and an online calculator to help leaseholders find out how much it would cost to buy their freehold or extend their lease.

 

In addition, thousands of existing leaseholders have also already seen a reduction in their inflated ground rent costs. The Competition Market Authority (CMA) secured commitments with major homebuilders to stop doubling ground charges every year for leaseholders.

"Would highly recommend the Anker & Partners team! They made the whole process SO much less stressful for us. A special thank you for Matthew for putting up with us for about 5 months and being so kind and professional, you are easily one of the most informative people we’ve ever had show us around houses and we’ve viewed a lot! (the second being the other lovely young woman from your offices but I can’t remember her name, but she was fab too) And also Marie, I don’t know how I would of survived without you! Through the phone or via email you were always there chasing everything up for us (even stuff you didn’t need too) Thank you to the whole team!!"
Jade Sewards - Purchaser