What action is the Welsh Government taking to protect residential leaseholders in Wales from unacceptable increases in groundrents by their freeholders, in light of the work of the Competition and Markets Authority in relation to unfair ground rents in the UK?
I am already working with the UK Government on the Leasehold and Freehold Reform Bill, which will deliver a wide range of much needed improvements in the law for existing and future homeowners in Wales. The First Minister recently spoke with Secretary of State Michael Gove about his department’s consultation on limiting ground rent in existing leases, and expressed his support for Mr Gove’s preferred option of reducing ground rents to a peppercorn or zero financial value. The outcome of the consultation is expected to be implemented via the current Bill.