Leasehold Reform (Ground Rent) Act 2022
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]
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| 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 & Wales |
| Dates | |
| Royal assent | 8 February 2022 |
| Text of statute as originally enacted | |
| Revised text of statute as amended | |
Raising ground rent had prevented purchaser of a leasehold property in England to sell their home as the lenders refused to approve a mortgage.[2] This act is a part of the UK government's programme to reform the leasehold system.[3]
References
- "Leasehold Reform (Ground Rent) Act 2022", legislation.gov.uk, The National Archives, 2022 c. 1
- "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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