Leasehold Properties: Mis-selling

Question: In my excellent recent private Member’s Bill, I suggested that ground rent for leasehold properties should be set at the lower of £250 or 0.1% of the property’s value. Does the Secretary of State agree with that suggestion?

Answer: I commend my hon. Friend the Member for Walsall North (Eddie Hughes) for his private Member’s Bill setting out the steps that are needed to bring the leasehold market into an appropriate space. He will have heard what I said about bringing ground rents down to zero. We have given that commitment, and the right thing is that we move forward with our proposed legislation. I am sure that, with his ingenuity, he will be able to scrutinise it and, no doubt, come up with further proposals to ensure that legislation is effective.

Secondary information