Teresa Pearce has co-sponsored a Ten Minute Bill to regulate ground rents charged on Leasehold properties. The Bill was presented to Parliament on Tuesday 25 June by Eddie Hughes MP . The purpose of the Bill is to cap ground rents to 0.1 per cent of the present value of the property (up to a maximum of £250 per year) and it also ensures that property developers would be liable to cover the legal costs of leaseholders seeking to vary certain ground rent contracts.
You can read Eddies speech here https://hansard.parliament.uk/Commons/2019-06-25/debates/4480173C-D8DC-430F-A16B-5AFAA2F129FA/GroundRents(LeaseholdProperties)#contribution-7E094287-47BE-416E-9C76-CE64EA030F89
Teresa said:
Although 10 Minute Rule Bills are unlikely to become law, Eddie’s Bill builds on the campaign to outlaw exorbitant ground rents. It also keeps the pressure on the Government to act after the Housing, Communities and Local Government report which made the same recommendation.
