Millions of leaseholders across England and Wales are set to benefit as Labour delivers on its promise to reform the leasehold system.
Ground rent will be capped at £250 a year, immediately easing costs for flat owners. New leasehold flats will be banned, and a simpler process will make it easier for existing leaseholders to convert to commonhold, giving homeowners greater control over their properties.
After 40 years, ground rent will fall to a peppercorn, bringing an end to unfair and outdated charges.
This reform marks a major step towards a fairer housing system – and another clear example of Labour delivering on its manifesto commitments. Promise made. Promise kept.
