Sheffield MP Louise Haigh celebrates new ground rent cap as victory 'against exploitative bills'
A Sheffield MP has welcomed new Government reforms to cap ground rent some residents have to pay.
Louise Haigh, MP for Sheffield Heeley, celebrated the latest Government announcement which introduces a new cap on ground rent at £250 a year.
The news was announced by Prime Minister Keir Starmeron January 27, which includes banning the creation of new leadhold flats.
It is hopes that thes new legislation, being brought forward through the Leasehold Reform Bill, will strengthen the position of homeowners.
In his announcement, the PM added: “I’ve spoken to so many people who say this will make a difference to them of hundreds of pounds.
“That’s really important because the cost of living is the single most important thing across the country.”
Louise Haigh said that this will make a major difference in Sheffield due to the number of homes that are leasehold.
She added: “I’m pleased to see the government has taken this step to support leaseholders and to tackle the unfairness at the heart of our housing market. This change to leasehold reform is more than just numbers on a lease. It’s about security, dignity and fairness in homeownership.
“Capping ground rent at £250 will make a big difference to the cost of living in Sheffield as we have so many homes that are leasehold. This is exactly what a Labour Government should do - standing up for leaseholders against exploitative bills and practices.”