Clause 1 - Regulated leases

Part of Leasehold Reform (Ground Rent) Bill [Lords] – in a Public Bill Committee at 9:25 am on 7 December 2021.

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New clause 1—Ground rent for existing long leases—

“Within 30 days of the day on which this Act comes into force, the Secretary of State must publish draft legislation to restrict ground rents on all existing long residential leases to a peppercorn.”

This new clause aims to ensure that the Government introduces further legislation to remove ground rent for all leaseholders, whereas the Act currently only applies to newly established leases.