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  • 10 months ago
Ground rents will be capped at £250-a-year in England and Wales as part of sweeping changes to the leasehold system announced by the Government.New leasehold flats will be banned and existing leaseholders will get the right to switch to commonhold in a bid to give homeowners greater control over their properties under the reforms.

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00:00Good news for homeowners. We're capping ground rent at £250. So that means if you're a leaseholder
00:07and your ground rent is more than £250, you'll be paying less. And I've spoken to so many people
00:13who say this will make a difference to them of hundreds of pounds. And of course that's really
00:18important because the cost of living is the single most important thing across the country. So this
00:23is a promise that we said we'd deliver and I'm really pleased we're delivering on that promise.

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