Packaging & criteria

Ground rent

Maximum annual ground rent must not exceed £250 (£1000 in Greater London) or 0.2% of the current property value (new builds restricted to 0.1%), whichever is lower.

Ground rent review period must be equal to or greater than 10 years.

Ground rent should double no sooner than 20 years.

If there is the potential or the ground rent currently exceeds the above limits, it should be reduced to within the required threshold.

This would require a lease variation to include a new clause in the Lease that states that under no circumstances can rent be increased so that it comes within the applicable Assured Shorthold Tenancy (AST) threshold in the Housing Act 1988 (as amended).