Conflict of Interest Concerns
Chancellor Jeremy Hunt has reversed his decision to sit out discussions on ground rents, raising eyebrows and accusations of a conflict of interest.
Rejoining Negotiations
After initially recusing himself from talks on leasehold reform in 2023, Hunt has quietly re-entered negotiations, prompting concerns from critics.
Treasury Blocks Plans
The Treasury has reportedly been pushing back against proposals to cap ground rents at £250 per year, citing concerns about potential market panic and economic repercussions.
Impact on Leaseholders
Leasehold homeowners face excessive annual bills for renting the ground their property sits on, leading to issues with property sales and mortgages, high service charges, and unreasonable lease extension costs.
Government Pledge
In the 2019 election campaign, Boris Johnson vowed to end the "feudal" leasehold system, emphasizing the need for significant changes to make the system fairer for millions of leaseholders.
A Treasury spokesperson stated that the Chancellor had followed all necessary procedures and advice from the department throughout the process.
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