Measures to Curb The Ground Rent Scandal

A cap of 10 pound

The recent intervention and steps taken by the government involves this idea of capping and limiting the ground rent charges up to 10 pound and this can't go beyond this number. The number is very specific and is decent enough to take care of both sides and their needs i.e. the leaseholder and the freeholder. This does give some compensation to the freeholder for the land which goes to the leaseholder with the house and also is manageable and small enough to be paid by the leaseholder. The best part of the step is that it takes into account the both sides and tries to make peace for both by considering their expectations and justifying them for both.

Government order

Apart from the above condition, the government is also trying to completely curb and eliminate the practice of leasehold scandal by putting relevant laws in place. The ultimate step and law is on the annihilation of the practice by completely removing it from the society. Hence this also makes any further need for damage control as completely redundant tackling the problem at its source and through the origin itself, leaving no room or scope for any further manipulation and abuse to the leaseholders through freeholders.

Cheaper and more efficient buying

Besides, there are practices being adapted along with expert professional doing due diligence, valuation and providing other support with information and legal process throughout the lease agreement placing so that the buyer or leaseholder could be safeguarded from the malignant clauses put in the leasehold scandal lease agreement.

These newly inserted practices include the clauses on converting a leasehold into a freehold, changing the lease term duration, reconsideration on the ground rent amount and the increase tenure along with other considerations and amendments which would make the whole experience for the buyer as positive and smooth, seamless and hassle free.