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Leasehold ground rents

Questions to the Mayor of London – answered on 20th March 2020.

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Photo of Unmesh Desai Unmesh Desai Labour

Following the Competition and Markets Authority’s report into the miss-selling of leasehold properties, which finds that there is no legal or commercial justification for ground rents, will you commit to ensuring that no new leasehold properties – be they shared ownership or private sale – that receive grant or loan funding from the GLA, or are part of projects that do, have ground rents above £0?

Photo of Sadiq Khan Sadiq Khan Mayor of London

I am committed to ensuring that leaseholders in London get a fairer deal, including through the banning of leasehold houses and reducing ground rents to zero. I urge the Government to move swiftly to implement these legislative changes, but in the meantime I have asked my team to look at how to ensure the GLA and our partners are demonstrating best practice in this area.