DEVELOPING: Ground rents capped at £250 per year for leaseholders in England and Wales. Millions of homeowners are set to save money.
The UK government is making major changes to home ownership. This cap is a key part of the Leasehold and Commonhold Reform Bill.
Ground rents are annual fees paid by leaseholders to freeholders. Campaigners worried the cap would be dropped.
The draft bill will be introduced on Tuesday. Prime Minister Starmer says the move will save leaseholders hundreds of pounds.
This is a developing story. More updates to follow.
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