This week we take a look at the new legislation contained in the Leasehold Reform (Ground Rent) Act 2022.
The legislation received Royal Assent in February 2022 and will effectively ban ground rents under new leases. The government has committed to bringing the Act in to force within 6 months, ie, by 8 August 2022 (except for leases of Retirement Homes which will not apply until 1 April 2023).
