Ground rent

Committee hears from Law Commission, lenders and legal experts in leasehold inquiry

Retrieved on: 
Monday, January 14, 2019
Land law, Property, Land tenure, Real estate, Real property law, English property law, Renting, Ground rent, Mortgage loan, Commonhold and Leasehold Reform Act, Leasehold estate

Leasehold reform inquiry continues by hearing from the Law Commission, lenders and legal experts.

Key Points: 
  • Committee hears from Law Commission, lenders and legal experts in leasehold inquiry
    The Housing, Communities and Local Government Committee continue their inquiry into leasehold reform on Monday 14 January with evidence session featuring the Law Commission, lenders and legal experts.
  • The first panel, featuring UK Finance, will investigate issues around leasehold from the perspective of mortgage lenders.
  • It will examine issues including the increased risks related to lending on leasehold properties compared to freehold and the impact of onerous ground rents on mortgage applications.
  • The panel with the Law Commission and legal experts will consider the case for reform of the leasehold system.

Leasehold reform examined by Committee

Retrieved on: 
Monday, December 10, 2018
Land law, Property, Real property law, Real estate, Law, Landlord–tenant law, Land tenure, Ground rent, Renting, Leasehold estate, Landlord, Lease

Leasehold Advisory Service and solicitor bodies give evidence

Key Points: 
  • The Housing, Communities and Local Government Committeetakes evidence fromsocial sector landlords, solicitor representatives and the Leasehold Advisory Service.
  • In the second session, the Committee will question the Leasehold Advisory Service on the quality of support they provide, particularly to individuals who claim they have been mis-sold properties or subject to onerous ground rents.
  • The final session, will explore the role of solicitors in leasehold disputes and include representatives of the Conveyancing Association and the Law Society for England and Wales.
  • The Committee will also look at the failures to highlight high ground rent to buyers and high costs charged for routine lease administration.

Developers and freeholders questioned in leasehold reform inquiry

Retrieved on: 
Tuesday, November 20, 2018
Land law, Property, Land tenure, Real estate, Real property law, English property law, Landlord–tenant law, Ground rent, Savills, Commonhold and Leasehold Reform Act, Leasehold estate, Leasehold valuation tribunal

Committee question developers and freeholders in leasehold reform inquiry

Key Points: 
  • The Housing Communities and Local Government Committee continue their inquiry into leasehold reform on Monday 19 November when they take evidence from developers, freeholders and managing agents.
  • Having heard evidence from leaseholders of escalating ground rents, opaque service charges and dispute mechanisms that fail to provide a level playing field, the session will examine the key issues that have led to calls for reform of the leasehold system from the perspective of major firms who build and maintain residential properties in the UK.
  • The session will also consider the impact of proposals to reform or replace leasehold, proposed improvements to dispute mechanisms, and the voluntary steps the industry can take to ensure consumers are treated fairly.
  • David Jenkinson, Group Managing Director and Main Board Director, Persimmon
    John Dyer, Director, Savills, and Chair of Residential Management Committee, British Property Federation

U.S. Median Rent Hits a New High at $1,500 a Month, but Rent Growth Slows Heading Into Fall

Retrieved on: 
Friday, September 28, 2018
Real estate, Affordable housing, Ground rent, Real estate bubble

The current median rent in the U.S. is $1,500 per month, up 2.5 percent from last year.

Key Points: 
  • The current median rent in the U.S. is $1,500 per month, up 2.5 percent from last year.
  • This time last year, rents were rising about 3 percent annually now, rents are rising 2.5 percent annually.
  • Rent prices are growing slower now than they were last year in 19 of the 35 largest metro areas.
  • In Seattle, the median rent is $2,225 per month, up 4.3 percent from a year ago.