A 90-year-old pensioner who has paid off his mortgage is having 'sleepless nights' after being hit with a 'feudal' £17,000 bill for ground rent. Derek Taylor is one of five leaseholders at Elgin House, North Herts, whose annual ground rent has risen from £25 to £2,350 - an increase of 9,000%. The rise has been backdated to 2018, meaning he now owes £17,169 in one lump sum and is facing legal action if he does not pay.
The policy will be considered in the House of Lords later as part of the 'wash-up' period, when the final bills that will become law are rushed through parliament before it is dissolved for an election. The National Leasehold Campaign has welcomed this news, amid fears the bill would be killed, but said the 'devil is in the detail' as it is not clear if a cap on ground rents will be included in the final draft of the legislation.