Stakeholders in Ground Rent Scandal


Government is the critical one to play a role here in curbing the wrong and exploitation of leaseholders through this phenomenon. Government can definitely be the most powerful and commanding stakeholder and can put in place a legal or formal code which would protect the buyer in future. Even if this requires a complete change of policies, acts and formulation of a new code altogether. Government has the power to direct and dictate the change if it chooses to. Hence it should take the ownership and act accordingly to provide safety cover to its people.


The solicitor could be one very important and crucial one in informing and making buyers aware of all the nuances related to lease and legal aspects of it. A well informed buyer can protect oneself well and negotiate the terms and conditions in one's favour more easily sailing through the pitfalls and loopholes in a smarter way. Ground rent scandal is one of its kind in history of the nation and need this external intervention very much.


Freeholders are the by default and first stakeholders and are the ones who could be seen as the source of the Ground rent scandal. The stakes are high for them as they happen to receive the benefits and perks through putting in very high ground rent through the change and would not want to let go the same easily.


Leaseholders are the one on the receptive end and they have no power over freeholders unless entities like government and solicitors come into play and provide with formal cover with empowering acts put in place. Given their current state of being stuck where they can't take an out, can't deny increased ground rent and can't get immediate cash flow through any other mean. Hence immediate support through authority is of utmost value.