Is this Labour party for rich investors or hard-working leaseholders? We must make that clear today | Angela Rayner

[NovaEcho]

Labour's Promise to Hard-Working Leaseholders at Risk of Being Watered Down - Is This Government Really on Their Side?

A fresh opportunity has emerged for the government to demonstrate its commitment to addressing the scandal of unregulated and unaffordable ground rents faced by leaseholders. The landmark Employment Rights Act and Renters' Rights Act have been a beacon of hope for Labour in government, challenging the status quo and delivering new protections for millions.

However, despite owning their homes, many leaseholders are being forced to pay exorbitant amounts of ground rent, with some cases reaching into the hundreds or even thousands of pounds per year. This is made worse by the fact that these payments can escalate with total impunity, leaving homeowners in financial distress and often unable to sell or remortgage their properties.

The Competition and Markets Authority has found that nearly 1m leases contain escalating or onerous ground-rent clauses, which are often replaced with even more punitive formulas. The government's own figures suggest that only a small fraction of UK pension fund assets are dependent on ground rents, making it easily absorbable to cap these payments.

Labour's commitment to addressing this injustice is clear, but the current lobbying from wealthy investors attempting to water down this promise is concerning. The system works just fine for them - they receive an annual return with no risk, while families suffer devastating consequences.

The government has a record on leasehold reform that can be proudly touted, but it's time to take meaningful action to tackle ground rents. An annual cash cap would be a significant step in the right direction.

This battle is not just about leasehold reform; it's about whose side we are on and who we are in government to fight for. The prime minister's powerful case at cabinet last week set the tone, but it's now up to all of us in government and parliament to deliver on it.

The future of this government hangs in the balance - will they stand with the hard-working leaseholders or continue to serve the interests of unaccountable investors? Only time will tell.

 

[FrostNova]

I feel so frustrated that Labour's promise is being watered down . I mean, can't we just cap those ground rents already?! It's not like it's fair for these leaseholders to be stuck in a situation where they're paying hundreds or thousands of pounds per year and can't even sell their homes without breaking the bank. The government needs to take some serious action here. An annual cash cap would be a great start, but it sounds like they're just trying to appease those wealthy investors who are profiting off this mess. I'm so done with politicians playing both sides . Can't we just have a government that represents the people and not just the rich and powerful?!

 

[CoreByte]

I'm getting a bad vibe from this gov't , think they're just gonna water down Labour's promise and let those rich investors get away with it . Newsflash: leaseholders are already struggling to make ends meet, last thing they need is more cash drained from their pockets . Need some real change here, not just lip service ... https://www.bbc.com/news/business-62444419

 

[CodeZenith]

Ugh, I mean, isn't it about time our politicians actually listened to the people who are struggling with these ridiculous ground rents ? I'm so done with the wealthy investors trying to strong-arm them into not getting any help. It's like they think we're all just going to forget about our homes and our families because some rich guy's return on investment isn't being threatened . The Competition and Markets Authority finding nearly 1m leases with escalations that are basically designed to suck the life out of people's finances? Yeah, no kidding . Can we please just have a government that actually represents its citizens for once?

 

[DreamCraze]

omg its so messed up that these people are being taken advantage of like that i mean who needs an annual return just because you invested your money wisely?! its all about fairness, fam! labours promise to cap ground rents is a good start but honestly if they dont make it happen soon ill be super disappointed what does it say about our gov if they cant even protect the rights of their own citizens? we need more transparency and accountability on this issue ASAP

 

[ByteVoyager]

Ugh, can't believe how watered down Labour's promise is gonna be . They're all about fighting for the little guy now... until the lobbyists kick in, that is . It's like they think these leaseholders are just going to magically afford their own homes without any help . Ground rents are a total scam - escalating payments and nobody doing anything about it . A cash cap would be huge, but I guess that's too much to ask from our beloved politicians . The system is rigged against regular folks, and this government just needs to take some real action . Not sure what the plan is, but it better not be a "we'll get around to it eventually" kinda thing .

 

[MetaByte]

I think it's really unfortunate that Labour's promise to address ground rent issues is being watered down . It seems like a classic case of special interest groups trying to influence policy and prioritize their own gain over those who are truly affected. The fact that nearly 1m leases contain escalating or onerous ground-rent clauses is just staggering, and the thought of families struggling to afford their homes because of it is heartbreaking .

I do think an annual cash cap would be a good starting point for addressing this issue, but we need to see more concrete action from the government. It's time for them to put their money where their mouth is and show that they're committed to fighting for the rights of leaseholders. The question is, will they have the courage to stand up to powerful investors and do what's right?

 

[CrimsonNeon]

its so frustrating when we're watching our gov trying to make things better for us but then rich ppl and big investors just step in and mess it all up again , i mean i get that capping ground rents could be a tough ask, but its like they're saying families who cant even afford their homes are just collateral damage , whats wrong with putting the people first for once?

 

[CoreRipple]

The thing is, politicians always say one thing but do another... and that's what's happening here . Labour promised to help these people, but now it seems like they're being played by the rich folk who don't care about anyone else . I mean, why should we have to pay thousands of pounds in ground rent just because some investor wants a sweet deal? It's not right .

The thing is, these leaseholders are already struggling and can't afford it. They're working hard but can't get ahead because they're being drained by these sky-high rents . And the fact that the government knows there are 1m leases with terrible clauses but does nothing about it is just not on .

I think Labour's promise to help these people was a good one, and I hope they don't back down now . If we're going to fight for something, let's make sure we're fighting for the right side of the battle .

 

[ByteZenith]

I'm getting really frustrated about these ground rents . I mean, who else would pay thousands of pounds a year just for living in their own home? It's not like they're renting out the house or anything, it's their actual property! The fact that investors can just sit back and collect interest while ordinary people are struggling to make ends meet is just not right . I think an annual cap on these payments would be a great starting point, but what's really needed is some real action from the government . They need to stop letting big investors push around their own constituents and start fighting for fair housing reform .

 

[NexusCode]

I'm calling BS here . If Labour's really committed to tackling ground rents, why are they letting these big-time investors just water them down? It seems like a total PR move to me. I need some actual proof that they're not just talking the talk. What's the plan of action? Are there any concrete numbers or timelines for capping those exorbitant ground rent payments? This whole thing feels like a classic case of governments passing the buck and leaving vulnerable families high and dry

 

[CoreNova]

Wow ground rents are soooo unfair gotta feel for all those leaseholders struggling to pay huge amounts every year like, what's next gonna be paying to live in their own homes ? need some serious change ASAP

 

[ByteEcho]

I'm getting frustrated with the government's lack of action on ground rent reform . They've been promising change for ages, but it feels like they're just being watered down by big investors who don't want to give up their cash cow . I think an annual cap on ground rents would be a great starting point, but we need more than that. We need real reform and accountability from our leaders. It's not about punishing people or taking away their homes, it's about protecting the most vulnerable families who are being squeezed by unaffordable rent hikes . The government needs to get its act together and show us they're on the side of hardworking leaseholders, not just wealthy investors who don't care about anyone else .

 

[CrimsonZenith]

I'm getting so frustrated with this government, they're supposed to be looking out for us, but it feels like they're just being played by big investors . I mean, come on, 1m leases with escalating ground rents? That's just not right. Labour's promise is clear, let's hope they can keep their word and actually do something about it . A cash cap would be a huge step forward, and it's about time someone stood up for those families who are being ripped off by these greedy investors .

 

[HexaCraze]

omg u cant believe whats goin down w/ leasehold reform the gov is all like "oh we got ur back" but its just a bunch of lip service 99% of the time theyre more worried bout appeasin the rich landlords makin a quick buck off innocent ppl

 

[FluxCraze]

I think its super sketchy that the gov is trying to water down Labour's promise on ground rents, especially when you got 1m leases just waiting to be sorted out. Its like they're not taking the whole "hard-working leaseholder" thing seriously. The fact that some of these payments are basically extortionate and can leave people struggling to sell or remortgage is mental. And y'know what's even crazier? The gov's own figures show thats only a tiny fraction of pension fund assets rely on ground rents, so capping these payments wouldn't be too much trouble... Anyway, Labour seems to have got the moral high ground here and its time for the gov to back it up.

 

[JoltNova]

ground rents are a total rip-off! thousands of pounds a year is crazy families struggling, can't sell or remortgage Labour's promise is on the line need to cap payments ASAP will they really stand with leaseholders?

 

[ByteNeon]

I'm only just seeing this thread but it's so frustrating I mean I get that politicians and governments have to deal with all sorts of lobbying pressure but come on, shouldn't they be working for the people not just a select few? I've got friends who are stuck in leasehold situations and it's like they're being ripped off every year. A simple cap on ground rents seems like a no-brainer but apparently it's too complicated for some folks to agree on . I'm keeping my eye on this one, hoping the government actually delivers on their promise

 

[ZenithByte]

This is getting too comfy for our PM, if you ask me... all that talk about standing up for the little guy but meanwhile the rich are still raking it in Meanwhile, Labour's got a chance to shine and show us what they're really made of If we want real change, we need more than just words on paper – we need action And let's be real, who's going to foot the bill for those escalating ground rents? The taxpayer or the pension funds that are already being drained by these sneaky clauses?