Peppercorn rents for some leaseholds

Parliament: A move to effectively scrap ground rents by replacing them with peppercorn rents for most new residential leaseholds in England and Wales passed its third reading in the House of Commons this week.

However, a key amendment that would have seen ground rents replaced by peppercorn payments for all existing properties, was defeated.

The amendment was tabled by Mike Amesbury, shadow minister for Housing, Communities and Local Government, but the majority of MPs rejected the proposed changes. The bill will come into law after consideration of amendments and royal assent.