Last weekend a story by The Sunday Times’ Deputy Political Editor indicated that the Government is proposing implementing a £250 cap on all existing ground rents followed by a ‘phasing out’ over time.
Almost a week on, we have heard nothing from Government on this topic and in the meantime the thousands of investors whose main income is from freeholds face an uncertain future.
ALEP (the Association of Leasehold Enfranchisement Practitioners) is a professional body representing over 1,200 solicitors, barristers and surveyors who work in leasehold enfranchisement and have experience of dealing with ground rents from a variety of perspectives. Right from its very beginnings ALEP has sought to engage with Government since its inception in 2008, with its initial ‘list’ of potential reforms.