The government has announced plans to cap leasehold ground rent at £250 per year, a move designed to make home ownership fairer and more transparent for leaseholders across England and Wales.

Given the density of flats and apartments in Norwich, and many new developments around Norfolk & Suffolk, this is great news!

Ground rent has long been a concern for buyers and sellers of leasehold property, particularly where escalating or unusually high charges have affected affordability and mortgage availability. By introducing a cap, the government aims to reduce financial pressure on leaseholders and improve confidence in the leasehold market.

For homeowners, this change could make leasehold properties more attractive to buyers, helping to support values and smooth the sales process. For buyers, it offers greater certainty over ongoing costs and fewer unexpected financial commitments after purchase.

This news underpins our advice that leasehold purchases are a great long term plan.

As always, the impact of any legislative change depends on individual circumstances, including the terms of the existing lease. At Starkings & Watson, we keep a close eye on government announcements and market changes, ensuring our clients receive clear, practical advice when selling or buying a leasehold home.

If you own or are considering purchasing a leasehold property and would like to understand what this could mean for you, our local teams are always happy to help.

The full government announcement can be found here – more information.