Ground rent not legally or commercially necessary, says UK watchdog

CMA says government may have to step in to protect leaseholders, as thousands in England and Wales remain trapped in contracts

Britain's competition watchdog has said ground rent is neither legally nor commercially necessary" and that government may need to step in to protect consumers from soaring costs.

The housing secretary, Michael Gove, is considering capping all existing ground rents - possibly reducing them to a nominal peppercorn" level, effectively zero - and launched a consultation in early December.